I have to bring my trust documents, my operating agreement, tax returns, the IRS EIN document. 

Do you have a current need for that cash flow generated from the tax savings?

Research rental comps in your target neighborhoods.Expense ratios: Repairs, vacancies, property taxes, insurance, property management fees, etc. can take a big chunk out of gross rents.

Property taxes were too high.

All of these numbers seem low, especially property taxes if this is in TEXAS:Vacancy $105.00 (3%)Repairs $105.00 (3%)Management $175.00 (5%)Property Taxes $66.67 (2%)What kind of unit is it?

@Erika Caba I think if at the end of the year when you can evaluate the situation as a whole with everything taken into consideration and are looking at your tax returns if your goals have been accomplished with this building, whether it’s positive cash flow, off setting W-2 income, whatever, then I’d say it’s too early to throw in the towel.

With hard money loans (fix & flip loans) you don't need to be employed or show taxes and you would get say 80% of the purchase price + 100% of the rehab money to fix the property up.

@Anx Carter Your safest bet is to have your CPA/tax professional determine the land value.

Is investing out of state a wise decision for someone only making 50K (before taxes) in an expensive city ? 

(I could probably get this increased but I'd have to get primary residence Sq ft re-evaluated since the basement is finished and heated but of course thay would increase my property taxes.)Thinking about refinancing primary residence and taking money out to do the additional building.