Fortunately it appears to be in very good shape, no sign of water anywhere.

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The way the government is printing money, $1M today will be the equivalent of $1B in 10 or 20 years.

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From other answers below it appears that the market lag in rental income requires you to either have equity or run the risk in the short term of capital expenditures killing any profit initially.

Rental units appear to be in pretty good demand.No improvements needed at this point and the property already has two tenants.

If you identify more than three (which you would want to do it you go the -plex route to ensure you have options if a deal falls through), you either have to ensure that the value of all the properties you identify does not exceed 200% of the value of your relinquished property OR that you purchase properties equivalent to 95% of the aggregate value of all the properties you identify. 

With Trump threatening to do away with the mortgage interest deduction, I would think that could be the equivalent to homeowners having an income reduction, which in turn could lead people to have to give up their house, because they can't really afford the payments any longer. 

Nor sure if my address will appear on the forms. 635 NW 3RD AVE, OAK HARBOR, WA 98277 is the address.

The property was bought for $100k in 2017 (cell B3) and sold for exactly the same in cell B19.This is what the Analysis tells me:Because the 15 year fixed rate mortgage reduced a lot faster than the 30 fixed in the example in my previous post, the Mortgage Balance in Cell B20 is at $32,827 instead of $64k.When you sell the property 10 years later, you receive $57,173 from your investment of $25k.That gives you a decent return of 9% IRR (which is sort of the equivalent of 9% per year for 10 straight years).So the answer is YES, you can have Zero Appreciation, Zero Cashflow and still have a decent 9% IRR !!!!!