I agree with much of what others have posted.Just speaking from my own personal experience, letting things slide will only lead to much bigger problems that are harder to correct.

@Ajeenah WilkinsHi I would honestly save up aggressively while learning for few months to year and take advantage of FHA or 203k or other low down payment options programs and house hack (allow offset mortgage), while buying a house that will allow you to have quick equity (Look up BRRRR) if done correctly.

Bottom line, I am looking for a lender that has an iron stomach during a correction. 

If the house is priced correctly the one unit can generate enough revenue to cover the overhead and still have positive cash flow.

Correct ?

I wouldn't buy for appreciation at this moment in time because who knows when the next correction will come...many think it will be sooner rather than later.....if you are able to buy for cashflow right now in Philly that can definitely be your hedge against the coming correction.Full disclosure...I am NOT an expert....I have 2 units in the SF Bay Area that I have for cashflow and am hoping for appreciation...but if they don't appreciate I still have positive cashflow on one unit and I'm barely below cashflow on the other......In Cleveland I have 6 units and all are strictly for cashflow and they are all between the 2% to 3% rule.

You are correct, they are growing and have a bunch of new development.

Correct?

@Dave Foster So the grey area being, no set time for holding the property, correct?

Obviously it would be going into the LLC bank account, but I'm wondering in terms of the correct tax way to do it.Do you just take the money out month by month and pay taxes on it at the end of the year?