Currently two unit are vacant and two of the unit has a long term tenant with very low rent almost half the market price which brings me negative cash flow.

It seems I could be one property tax re-assesment away from being negative cash flow if those numbers are accurate and remain constant.

Might even be negative cash flow at that point.

- the property was out of state so I did not have any cash buyers - I only had two weeks before the house went to auction- I found a buyer but her dropped out last minute - In order to find a new buyer I had to go back a negotiate with the seller - The lending company was not helpful with providing documents for pay off- I found out two days from closing that the seller was married but separated.

Assuming you're putting the minimum down (20%) on any single family, even at lower price points, you're going to be cash flow negative for several years if you're accounting for all long term and short term expenses.

The other negative with a long term renter is I lose the flexibility that short term renting offers.Currently, I'm in the process of obtaining my real estate license which I should have by this summer. 

Who has had some positive experiences/negative experiences in Real Estate with sheriff sale's, probates/absent owners? 

A few months later i decide to sell the house and then rather than paying capital gains on a $200k profit, i only pay it on $75k.Thoughts?

That is, if a small uptick in interest rates would result in negative cash flow or a loss, don't do the deal. 

I won’t buy negative cash flow properties.