Your best bet is to work with an agent who knows the area and use the MLS, zillow ect.  

Hey @Sameer Kh - spending $6,100 on repairs seems like you'd basically be spending 5 years of cash flow (considering you finally made some money this year in the amount of $1,200).So, it looks like you're betting on appreciation, which is always risky.

. $320 for all these categories just doesn't seem feasible on a monthly basis.Therefore, I think it's safe to say that it's either your cash flow that declines (e.g., <$100/mo.) or you hope there's months with little to no 3) vacancy, 4) maintenance, 5) capex, 6) tenant replacement, and 7) tenant renewal costs, which would be foolish.

. $320 for all these categories just doesn't seem feasible on a monthly basis.Therefore, I think it's safe to say that it's either your cash flow that declines (e.g., <$100/mo.) or you hope there's months with little to no 3) vacancy, 4) maintenance, 5) capex, 6) tenant replacement, and 7) tenant renewal costs, which would be foolish.

A big part of my responsibility as a landlord is to provide a safe place for my tenants to live, and I feel like this bill would severely limit my ability to do that. 

I'm in Northwest Arkansas, and I don't know the Conway market, but with the two colleges there, I bet it's a good place to get started.

With the market where it's at, with so many people overpaying and thus driving prices up and making deals assets less lucrative, this structure allows deals to still be attractive for upside investors while providing a nice safe (in some cases, not all deals are safe/good) investment for those who are looking for capital preservation over growth.

I would say your best bet is to find one in which you simply own the land and fixtures. 

There is no one to blame here, but there are some very big lessons to learn and I’m betting the tuition is gonna be expensive.

It's the last means to get out of a "deal gone bad" with your personal assets safely in your possession.