When thinking about depreciation it's not about when you buy the property, it is when you "put it into service."

Not sure if you are looking to get into the PM business or just renting a property you own, but contracts is the only thing I would contact an attorney for.

You can often secure a loan based on the property's value rather than your financials, making it easier to get approval quickly and move on deals like the one you found.Using private money can help you fund the purchase and the rehab costs without tapping into your home equity or savings, which gives you more breathing room and allows you to focus on the project.If you’re interested, I’d be happy to walk you through how private money lending works and how it could help with your current deal.

I'm looking at a few prospective property managers for when the time comes.

In return I can offer access to MLS information(Realtor), Sweat equity(maybe you need help in one of your flips), Bird dogging, or even listing any properties for you in return for your guidance. looking forward to connect with the community.

I also get a lot of calls from the yard sign in the front yard of the rental property I’m listing. 

You really need a training wheels type property to get moving & learn the business.

There is a road leading to 4 ranch properties and ours is the 2nd property from the main gate.

  * A bonus play would be purchasing a small commercial property with at least a 25 space lot in the aforementioned areas; the idea is to convert the lot into paid parking to increase value.   

If your monthly income is $8,000, you could get approved for a mortgage payment of around $2,000–$2,500.Credit Score: For investment properties, a score above 700 is ideal.Down Payment: Investment properties generally require a 20-25% down payment, so for a $300,000 property, expect to need $60,000–$75,000 in cash.