@John Lee interesting question and as an active duty Marine officer I have some insight into this situation.

Any tips and tricks for my first investment property?

Some escrow officers are not as familiar with handling un-probated estates as others.  

I'm looking at a property in cook county, IL and noted that the assessor's office is using an estimated market value that is greater than the listing price on the property. 

It's a very old property (late 1800s), so I will be wanting to set aside a good chunk of money in a reserve account for maintenance and Capex.I'm currently self-employed and write off everything under the sun (that's legal, of course) on Schedule C including all home office & related deductions, most of my automobile miles, cell phone, etc, etc, etc. 

@Omar KhanThanks for your input as well and for the tip on capital gains.

Tim, I am your guy.My team and I sold 74 properties last year.We are local with an office right here in Dover on State St.Looking forward to connecting!

I am currently a Marine Corps Officer with 5th Marine Regiment based in Camp Pendleton, Ca.

Then when you PCS from Ft Bragg you can turn it over to PM and use it as a rental.I have known several NCOs and Officers that purchased a SFH at each of their duty stations; handed them over to PM and finished their 20 years with two sources of passive income.Highly suggest you look at the southern pines area if there are any deals; that is where you find the majority of the higher BAH earners going.Airborne!!!

Just some friendly advice you are coming off to strong and some what aggressive to your broker and the office, cause everyone knows the office finds out everything.