It was shocking to me and I keep that lesson in my head going forward with my investments.

Thanks for the update @Ben Skove We have been looking at properties in that area also so thanks for the heads up.

I am in Grand Rapids Michigan just about to jump into mobile home investing.

Steven hit the nail on the head, there's an awful lot of knowledge and experience on this site so ask questions, read forums, meet fellow local investors at your REI meetings and you'll become smarter and more connected in no time!

Yes it's very nice.I started to have a head ache...I wonder if they are legal residents...It's not a war zone area, probably very nice people who work hard, some of the residents do not have vehicles, but the building is only 3 blocks from a major road with public transportation.The numbers do work.But I doubt I can raise rent without upsetting the dynamics of that group.I also don't think these tenants found this place online, it's word of mouth.Something doesn't feel right.

Thanks for the heads up @Mark Ferguson !

I really believe that there is real value in Baltimore if I could just get my arms and head around it.

Everyone was happy.The contractor and I as well as the Realtor put our heads together and came to an agreement to do similar deals.

I've been based in Miami since August but will be heading home for Christmas before returning for another extended stay most likely in April.I've been developing a modest 'buy and hold' portfolio of property back home since 2006 which currently consists of 6 tenanted residential properties in and around my home town.

As for the tax question, I don't know off the top of my head, its not a common issue in my practice, but I can look it up for you this week when I get back into the office (maybe sooner).I love senior the plan you have laid out in your profile.