That low priced Midwestern property is not low GRM directly because of location & demand, but a secondary effect because of the low prices those cause.

I used the Saturday to familiarize myself with the areas that I am interested in investing, so it wasn't a completely wasted trip.Ideally, I would like some time to analyze a deal, look at the property and the neighborhood, maybe talk to the tenants before making an offer. 

It allows us to effectively grow your asset base on a tax deferred basis, similar to the way a 401k allows you to grow your asset base on a pre-tax basis, if that makes sense.If you don't have a gain on the property, you could still be liable for depreciation take back taxes because since the property has been depreciating over time.Anyway, I think we've all belabored this topic extensively and hope that we were able to help the original poster with their question :)

But that's the laws where I live and your mileage may vary.If I wanted the change to go into effect immediately, I would need the tenant to agree with and sign the lease amendment. 

How would this type of sale effect the seller in terms of taxes?

Team building exercises seem to be an effective way of building the team as they move through their various stages of forming, storming, norming and performing ((https://www.mindtools.com/pages/article/newLDR_86.htm).  

The basement layout is awkward, has a bunch of wasted space and could be changed to make 2 bedrooms. 

If you pay off your mortgage you are saving 3 maybe 4 percent so in effect investing money at 3 maybe 4 percent. 

I want to be clear - I DO plan on getting a protective order first before I move forward so it is in effect during eviction.

Sounds odd until you do some research into effectiveness of low budget and hours in getting deals.