I currently have a mortgage and HELOC. as well as 70K debt. 

I am really trying to figure out how to put in a bid on the Baltimore City tax sale (coming up in May).

When investing in real estate, don't overlook local and state taxes.

I just sold a spec, I built a house for my self last year and finished a spec this year, I bough the lots at tax sale, and I was the GC, HVAC, Tile, Flooring, Cabinet, Painter, and Misc. guy, made a nice profit, but the crappy part is taxes, its like a flip, short term gains. good luck!

In general, expenses related to the purchase or improvement of a rental property can be deductible, but the treatment of these expenses may vary depending on the nature of the expense and applicable tax laws. 

Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

It's a good idea to talk to legal and financial experts about taxes, insurance, liability, rental agreements, and managing your finances.

With the exception of places like South Florida which can be quite saturated, Florida is great for high return potentials because of its consistent population growth, beneficial tax laws, and strong markets.

On the equity side by increasing net income and or decreasing risk, on the debt side by “working” the note.  

Additionally, they engage in charity work and support Christian ministries, which may resonate with those sharing similar values.Our financial advisor initially recommended SDIRA Wealth for its tax strategies, and it has proven to be a solid choice.