You can do much better in areas like South Kansas City, Independence or Raytown than you are in Liberty.

The stress over a couple of thousand dollars in deductions is not worth it even though it will probably not trigger any audits, Refinance is your most important goal is take care of that, besides you can always amend your tax return later on good luck on the refi

If that person moves out while your still working on the unit you are in depending on the condition of the other unit you may have a hard time finding a new tenant that is ok with its condition.

So the current owner of the note has the rights to collect on the note.Now there are companies that do forensic loan audits where they check for proper transfer of loan rights etc. 

Now you're stuck with a property that isn't worth what you paid for it.If you buy this without a bank loan, get an independent appraiser to give you an estimate of what it's worth.

I was also kinda new in renting independent apartments (been living in basements for the past two years, where the relationship with the landlords is always been very close) and so I did fell for it. 

I've done Google searches, searched Bigger Pockets, called local big name insurers, and independent agents.

Big dollar (income) returns and returns with many schedules (particularly Schedules C and E) are audit flags, so many pros will charge a premium for these types of returns due to the exposure, even if there's not much to report.Many will say that you get what you pay for, so be wary of a tax pro who would only charge a couple hundred dollars for something like this.

Now granted, Cheyenne is not Casper but the economies are not independent either.

Do you want to work to pay off a nice house near the beach or do you want to invest so you can be financially independent?