In looking at these kind of decisions, I think you need to consider all of the potential advantages of longer term real estate investing: rental income, income tax benefits, loan principal reduction and potential appreciation.

FHA/VA loans made I think in the 1980's are assumable by anyone without permission from the lender although fat chance of finding that.

For example, if the same property was sold two years after purchase for a $100,000 profit, 50% (assuming there had not been any reduction in the debt) of the gain, or $50,000, would be subject to tax at a rate of 15% (the current long term capital gain rate).

Construction money is very tough to find right now, but I think it is doable with a nice, fat piece of collateral to immunize the lender's tertiary risk.

I would say the biggest thing to watch out for with Section 8 is rent reductions.

This will probably be a profitable trend that continues and expands in other directions for increasingly revenue-strapped government entities.After all, LLs are 'big fat rich' targets who cannot easily walk away, and who generate zero sympathy from the voting class.

The properties are in Kansas City, KSNashville, TNLafayette, INIndianapolis, INSan Antonio, TXToledo,TXHow does the property tax reduction work.

Its listed at near 150k, but I think I could get that down to mid-$130k given that the property has been on the market for a while and has gone through a few price reductions.

But, tax reduction will be the icing on the cake of 1) doing something business wise that is enjoyable.

I know this b/c I am below the market rental amount (I’ve done my homework), have done a price reduction already and prospective tenants all know the price before they look at the house.