@Bryce Stclair I have learned to adjust my rental expectations with BAH in a military community.

Regarding your property tax question: If you buy a distressed property in Florida, the county tax assessor will "assume" that you are going to fix up, and the year after you purchase it, your tax assessment will automatically be adjusted to be the same as the surrounding (similar) homes.

Can move anywhere or stay put.No family or anything holding back from making drastic moves.What market/strategy would you use the 100k for buy/hold purposes in today's climate?

I have learned that some areas of Houston are micro climates that you need to be aware and stay away from and others that may be a great area to buy.

@Shawn Ackerman:Purchase price must be equal to or greater than the sale property being sold.All profits must be reinvested into the new property to defer capital gains taxes.Profit will be determined on an adjusted-cost basis after taking into account the depreciation that has been already claimed.BONUS (and most important): Get yourself a great Qualified Intermediary (QI).

Because each vacant property could have differences that are difficult to adjust for, I view vacant sale comps as a secondary check on the value derived from the method I first described.

We intend to pay off the remaining amount of the loan prior to the adjustment period.

If you are disiplined and take it serious from screening to repairs, etc. then you will find it very manageable... and I would say very fun and rewarding.You need to allow for the first year so that you can learn and adjust to being the best landlord...

I believe I originally got it from BP's files but have slightly adjusted it as needed.In general, keep everything (expenses, vacancy, repairs, etc) as percentages.

Details: C-class property in a C-class neighborhood in SE Virginia 3/1 SFR: $37K to acquire and $30K for rehab (redoing just about everything). 75K-85K ARV $750 a month rent, 12% vacancy (property manager tells me 8% is more likely but I want to be conservative), 10% property management, 7.5% repairs, 5% cap-ex, all utilities paid by tenant, property tax adjusted to an ARV of 90K.