Even if a neighborhood is cheaper/higher crime/lower income tenants, there tends to be at least one pocket that is nicer in that neighborhood where you can find something that checks both boxes.

It could supplement retirement, although we are forecasting to be well off without the condo income.

Then a cost seg / bonus depreciation of 60% (2024 limit now) would allow me to write off significant losses on my other active income without having the income restrictions that we have on passive losses. 

Again, the owner is older, and owns these properties outright, so I believe keeping the consistent income might be enticing to him.Any other considerations I should be thinking of? 

If you are only seeing one other rental, I'd lean towards that showing how tight the supply there is.If you have not spoken to a local property manager in the area that's probably the best way to get a feel for demand and vacancy from them.but if this is a 7 unit building it should evaluated and valued on the incomes in generates so there should be vacancy and rent roll data points that will help you understand the demand for this specific building.  

Prior to Pacaso, my friends and I had an idea to purchase a vacation home as a passive income generator.Curious to hear everyone’s thoughts on group/co-ownership for real estate.

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

       - Rent-to-Price Ratio: I'm looking for areas where rental income justifies the property price.2.

Amazing opportunity to own a profitable income property.

. $2,100 Fair Market Rents in Tampa, the Tampa Housing Authority covers $1,800 and the tenant pays $300 per month, you screen off the $300 per month for your rent to income ratio.Also, you can definitely go off the Fair Market Rents that the 2nd poster mentioned above me, those are accurate but assume that number INCLUDES all utilities, so if you take out Electric/Gas or other utilities, they Housing Authority will reduce it down, so instead of paying $2,100 total, they will reduce it down to $1,950 if you want the tenant to pay electric/gas as an example.