If you purchased the investment property with cash, bought a home run deal, or added value you should have equity to play with. 

Financing FeesAs far as the rent roll and the T-12, you will want to review rental comps in the area so you will have an ideas as to how you will raise rents (Assuming you are doing a value add play).

@Andrew Greer Here’s how I have seen it play out from personal experience.

The property tax definitely plays a huge part in making rental properties more difficult to generate cash flow.

After talking to IRA finance group, the advise was potentially starting LLC a in those other locations and partnering with my SDIRA and then when I move creating a C Corp to umbrella them.I think I may be over Complicating the process, but I don’t want to get hit with taxes and want to protect myself and use some of my retirement investments to get going and play with my cash simultaneously Incase I can li find employment and this thing turns truly full time (tracking notes, liens, getting my broker license, etc). 

(not for my first investment in NYC bc that's more an appreiciation play)Thanks,Originally posted by @Cameron Tope:Jimmy,Yes, you are correct.

Now of course you would want to model out the various scenarios and identify a price you can pay that makes sense, however non of those scenarios will have a chance to play out if, for example, you bought a note that has sold at a tax sale and redemption period ends before you claim and redeem the taxes.  

I have played around with the numbers.

I come here from the BP podcast- I am currently living in Asheville NC but moved here from Minneapolis MN after playing for the University of Minnesota Golden Gopher Baseball team and graduating with a business degree.

You'll want to work with a savvy Tax attorney, business attorney, and CPA to make sure this is a valid tax avoidance or optimization play, and not a tax evasion play.In the end, Bellman, I will tell you what life has told me:  Occam's Razor is for real.