The costs associated with holding the property, and even to some extent the opportunity costs of holding the property until it was rent ready.I hope this provides some food for thought.  

LOTS of food for thoughts..

Hello BP nation,I am just starting on my journey into REI and I already have a good conundrum....My mother in law, who speaks very good Cantonese, but very poor English, owns a property in CA where a fast food franchise sits.She evidently has had a few franchisees along the way and most recently (at least a few years maybe more) the franchisee is paying rent but without an active current contract. (!)

The food is good! 

@Arin Whedbee  OK your 17 so the fact your even here asking questions moves you up the food chain.I got my real estate license at 18..

I am a welfair, section 8 and food stamp kid myself.  

Just some food for thought from someone who used to kinda sorta be in your situation in his earlier 20's and where I think my head would be on making a decisions like that....Now that having been said...passions change...so if real estate is your dominating passion ( And I mean for more than the past week) then by all means change your goals without fear of regret.

:) Food for though ... 

I used to provide elaborate food but my area was $500-900k houses.

Low crime area, within a couple of miles of anything you would need (shopping, restaurants, fast food,  etc...),  Close to a park and several schools.