It's a smaller purchase price, so the down payment was pretty minimal.

Basically, there are a lot of ways to determine what your salary "should be" to both maximize tax benefits and minimize audit risk, but nobody here can tell you what that specific number is.

It was built in 1971 and has only had minimal updates since then.  

Change of ownership can already trigger tenants leaving (i.e. vacancy for you) and if you're only talking about $25/month each, that's very minimal.

If you are lucky enough  to find a property, definitely buy and develop it (despite any permit delays).

If you do not have reserves enough to weather Cozy's delay, there are bigger problems afoot.

The one I have now is having major family issues and he’s delaying our jobs.

I did consider property management company but quite honestly so far I found that the amount of work I need to do is minimal compared to the 10% that I would need to pay for such a service.

@Greg Soon using delayed financing, there is no seasoning.

But I would also like to make some money off of it with minimal effort on my part.