for sure its help.is it not true that all purchase contract say that you must have a licensed contractor due the inspection? 

I am worried about clean titles, walking into something that is too good to be true type of situation.

@Jay Hinrichs Appreciate the feedback Jay.I have heard that generally a 2% rule property is too good to be true, was curious if people have had success anywhere (and have been happy) with those kind of properties.

I agree with @Tyler Gibson because the numbers seem a little to good to be true.

@Jacob Sampson that’s true, I wouldn’t care as much about my property value at that point as long as I’m cash flowing but I also heard that in a downturn rents can decline as well due to job loss.

Will they use it wisely for a true need?

True story.

Is that true?

will depend on your area, you will need to perform due diligence. deals don't fall out of the sky, but you will need to go find it. tell everyone around you what you want to buy, go knocking on doors, speak to investor friendly realtors.Basically, the more people you speak to and network the better chances of you finding a deal.Make sure you know how to run your numbers to make sure you found a true deal.

To use your own phrasing, I think your true "stupid tax" here is losing a formerly reliable tenant because you have to evict at this point.