Over the last 6-7 months, I’ve been doing my best to “get smart” on real estate investing, starting off with Rich Dad principles, which led to Rich Dad Advisor (McElroy, Sutton, etc.) audiobooks, which led to BP podcasts and doing YT research on tax benefits…I’m feel ready to take action and start putting everything into practice but still not certain which method is best for my first investment property.

What tax purposes do you have?

To get top dollar for a renovated property you're going to have to clear the title as it would be very difficult, if not impossible, to find a title company that will write a policy for title insurance on a property coming from a tax sale.

That's income + add-backs.One other note. 

IRS SS-4 FORM: When you first sign up for your Tax ID number, you’ll get a letter stating what your Tax ID number is.

Factor in all your expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents. 2.

Most are not as good at determining the accounting and tax allocations issues. 

Most tax software has an option to specify that rental income is non-passive, and that's how you do it.

Remember Each City website has a place where you can look up the tax record make sure you take a look at that before you make any decisions, It can give you insights in to the Flood zones, HPC zone, ETC.  

More than 500 properties, PM, short sales, tax liens, sheriffs and more,  Good luck Dam maybe I should put together a book and tapes and sell them