However, if you bought a place and it is sitting empty because you are trying to find good deals then you are in fact losing out on potential revenue.

My goal: The main goal here is to increase the value of the home and appeal to potential renters in the future.

I completely understand the potential pitfalls and will definitely keep it in mind as I plan and file taxes moving forward.Exploring alternative options such as commercial loans, private lenders, and hard money lenders is a great suggestion.However, I think that the FHA loan is what would better fit right now.Thank you once again for your valuable advice and encouraging words.

Purchase price: $190,000 Cash invested: $60,000 Cashflowing Duplex with potential to convert to Triplex What made you interested in investing in this type of deal?

Are there potential risks I'm not thinking of?

I-Bonds, offering inflation protection and potential CPI-based growth, are worth considering, but keep in mind the one-year holding period.

However, self managing could potentially take a big chunk of your time.Speak to a reliable PM like @Chaim Lampert for more info

My question is considering the above, what strategies exist that would allow me to leverage the free and clear condo such that I am expanding my portfolio, or am I kind of stuck in a holding pattern of waiting until these existing leases expire, and then potentially selling the properties?

I also see quite a few potential on the open market with fixers.

be mindful that those involved in the military are provided an 'extender' on their section 121 exclusion eligibility.Depending on the appreciation on the property(if there was), you may want to consider taking advantage of section 121 as the excluded gain may be higher than the potential cash-flow that you can get on a property.