The purchase decision only requires online thorough research, then try to buy in a 401k/ira so you don't have to pay taxes on the Dividends which can be large.

I have no savings, and our debt to income isn't great right now, but we are making progress.

@George Baal I would recommend taking out the HELOC to start but given the high variable interest rate, I would then consolidate that debt into a better financial vehicle.

Assuming he/she does not sell the property at the end of 10 years, at that point will taxes be owed on the property's appraised value?

I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is too high due to my student loans and mortgage.

That way increases in costs of insurance, property taxes, etc are passed onto the tenant. 

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

(yes, I will check with my tax professional also)

Purchase price: $500 Cash invested: $1,123 Sale price: $25,500 A seller got behind on taxes for this 1.4 acre parcel in Colleton County and it was sold at auction.

Im at 720 and no debt at all.