From my knowledge it really depends on where you are in Newark, I know there are many expensive areas and not so expensive areas.

In the meantime continue saving more money and make sure you are using your credit meaning make sure you have a credit score because when you actually begin applying that's an important part of the process so that lenders can see you are responsible at paying off any debt.

@Denise Holder That really depends upon the "whole picture" of their financial situation and the, Chapter 13 verdict and their physical/emotional being.

Effectively, you would claim depreciation for a portion of the year depending on how you set things up initially during the year you purchased the property.

I have over $200k equity in my primary and I will be taking out a HELOC to fund my first deal but looking ahead - I'm not sure how long we're going to hold on to this house so I'd like to focus on building a business line of credit that I can always depend on. 

So, the clock should start when Title is transferred.Obviously, if it takes some time to transfer you can build up some appreciation depending on market conditions, and good to know especially for the heir to sell in a timely fashion to take advantage of the exclusion.Good luck.Good luck.

Everyone has a different perception on the different asset classes.Just depends on how you where born and bread 🤷🏻Someone living in Beverly Hills would call my "B class" a "Z Class" lolI consider B class in Toledo to be as follows:1) Good infrastructure supporting home owner and tenant demand (Schools, colleges, hospitals, medical centers, larger employers, etc...)2) Employed tenants that are sophisticated enough to pay rent online.3) Well kept yards, no bordered up homes, pride of ownership in the community.4) Mix of home owners and investor owned (Leaning more toward home owners)5) Lower crime rates and some upside potential from an appreciation standpoint.6) Entry sub $100,000 with 8-10% net returns on cash investments.Every market has different numbers and cashflow expectations Much success

@James Landeau Some people will say it’s ok to buy a property with low or no money down and depending on the numbers it may be fine.

And depending on the locality, some only allow you to act as a GC on your personal residence, not on investment properties.

But whether or not you should is a financial question that really depends on where your lot is.