If there is sufficient equity in the property you would also be entitled to be reimbursed for any property taxes you pay.   

Something else that concerns me is that I am self-employed, and new to it as well, so I fear I most likely will not be able to qualify for traditional financing to buy properties.

Do we manage our rentals our self?

Accountability to self & your network.

My dad is a self-employed owner of a plumbing company that has been around for 12 years, he is a 50% owner with his partner being the other, and they are an LLC that is registered as an S-Corp.I have been working with a lender for the past 2 months, and between a lot of back and forths, we were finally able to figure out how to work in enough deductions back into his income in order to get his income underneath the required 50% DTI in order to qualify.

I self manage all of these properties from the East Coast, so have a lot of good knowledge The others mayfind useful.

This is a great forum with very knowledgeable members that will help to guide you in the right direction, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Purchase price: $59,000 Cash invested: $59,000 Paid cash with my self directed ROTH IRA.

Purchase price: $59,000 Cash invested: $59,000Purchased with self directed ROTH IRA.

If you want to self manage then investing locally will save you the 10-14% management cost which will significantly increase your return.You may consider other niches in your local market.