Real estate is a long-term wealth vehicle, and overall, I would be cautious about how you define overpriced.

Well, history shows what happened both in terms of marginal tenants ultimately getting hurt (as did many landlords) and the Supreme Court ruling the Eviction Moratorium as unconstitutional.I see the whole idea of rent control, which is just another form of government invasion for political hopes, being bad for everyone. 

Id suggest 2 or 3 yr term on both. 

@Levi Collins: As long as the tax deed clears title process, that should not be an issue.

made an offer on a property only to find out later that one of the units was going through an eviction.tried to extend our inspection contingency to no avail to buy us some timeended up not being able to come to terms on how to proceed with sellerthe last HOUR of our inspection contingency the seller offers to try and buy out (cash for keys) the tenant the next day (he had a property manager handling the eviction and wasn't even aware of it initially).i get a (risky) oral agreement that even though the contingency window had passed, if the plan falls through my client will still get their EMD back the next day the seller ends up buying out the tenant for a bit over $3,000 and now we can move forward with the deal without the headache of a problem teanant/ picking up an eviction.

I don’t want to have to wait a long time to save more money to buy my second one.

You want to keep it as you like the cash flow or see the market really performing well for the next 2-3 years. 

That is what I am uncertain about but know I have to be prepared for it in terms of the hidden costs beyond the external fixes for the property.

Long-term rental with substantial services provided.

I would say it depends on if the property is a pain and what your long term goals are.