Hi James, Blair is correct in that the agent that sold you the home should be able to provide you with a Market Analysis that shows you all of the recent sales in the area.  

I would try and get a multi-unit property, although I'm not a US investor so correct me if I'm wrong, but by leveraging it as a 20% down payment, you're able to get a 4 or 5 unit property, which, with the right property, could be a cash flow BEAST, but I would be sure to factor in everything conservatively and definitely keep property management in mind. 

They can also introduce you to their local network and help you course correct before, during and in selling the deal.

I guess I'm not seeing where I would potentially break even.The P.I.T.I. is $665 (correction from $613). 

That would also keep him from having to pay all of those taxes at once correct? 

All subs are correctly licensed and insured.3.

In South Carolina , I paid a lawyer to do it correctly.

@Kin LeungMan...this questions comes up all the time on BP - I want to get into MF but maybe I'll wait till the market corrects or crashes. 

I've entered into partnerships where I'm the managing partner and I need help to make sure I'm reporting the financials correctly.

@Mike Stadel Check this group out: https://syndicationattorneys.com/*I'm not sure if they are able to do South Dakota, but if they don't I am sure they can point you in the correct direction.