It's not relevant that one owns the property, it's relevant that you can find ways to be part of or control the asset, value creation, cashflow and ROI.

I will make my research about Macon and SW in order to realize if thus places are relevant for buy and hold investments.

If relevant, I also own a cash flowing rental property in NYC worth $1.3  that has $750k in equity in it.

@Duncan Taylor No, I don't have a CPA, that really isn't relevant to this discussion though.It's not about trying to get away with anything.

I guess the first thing we need is an investment-friendly realtor, but any suggestions on local folks in all of the relevant industries would really be appreciated, other than accounting.

@Lee N. asked me more questions in a direct message, but I think the answers are relevant to anyone looking at this discussion, so I'm posting my answers here:Lee's questions: Once I get deeper in this process, I may have further questions, especially about picking contractors and how to shorten the closing time.

In case it's relevant here's a little backstory.

Who the LL or owner is is not relevant as long as all laws are complied with.More simply put, and ownership change changes nothing as far as a tenant and their right to occupy, or the end of their occupancy, is concerned.I would just make sure the seller, in their notice, includes verbage that lets the tenant know the property is being sold and whatever reason the new owners have for terminating the tenancy.

This only applies to residential. ...Bill Gulley - That is not quite correct; here is a link to the relevant code:http://www.law.cornell.edu/uscode/text/12/1701j-3Upon reading that, under the "Exemption of specified transfers or dispositions" section, you will see the following text:Originally posted by US code on "due on sale":... the granting of a leasehold interest of three years or less not containing an option to purchase ...So for 3 years lease or less, there is no violation of "due on sale" from the federal perspective.

I've then reopened them under different names but I did retain some employees.It may not have enough relevance to your post but if you're interested ask me anything.