The person stepped out briefly to get supplies, and during that time, someone broke in.

Note: All units are leased out currently and the total rent is currently equal to the interest payment we’re making so we’re at a break even but obviously can’t do this forever.

After that I will use my savings to fund the next property and repeat the process.

If so, how do I get around this or at least make it to where only the rental income from the property is taxable locally? 

If I decide to do a claim?

Hey Robin,Welcome to the community!

The lease is not up for a couple years; however, the USPS has submitted a proposed lease to me for the next 5 years.

I have built around $80,000 in equity due to appreciation and plan to hire a company to manage the property and start to cashflow instantly.

Cost to build: $280-$300K, 10 year tax abatement from city.  

@Isua Mbang I haven't used this product but it comes and goes under different monikers, velocity banking/all in one loan/accelerated primary residence payoff etc It could potentially work but keep in mind that most people don't have stable enough finances to make this work.