You run the risk of the IRS classifying the property as 'personal use' if you rent the property for a lot less than FMV.

I am getting close to purchasing my first investment property and looking for any help or guidance anyone can offer.

Hello all, I am very close on closing on my first property.

@Sean Kirk There are ibuyers that are out there that are willing to pay a little bit of discounted price on a property.

You didn't talk about condition of the property.

Here’s why you should consider investing in this growing market:Affordable LandFlorence offers affordable land compared to larger markets, allowing investors to secure property at lower prices with strong potential for appreciation as the area develops.High Demand for New HomesThe city’s growing population is driving demand for new construction.

I’m all about the rental properties and fix-and-flips too, so let’s definitely share insights and strategies.

I have a property in Kansas City that has been freshly renovated.

It's definitely worth it, especially if you're buying a property through like an auction or something similar. 

Your losses even depend on number of things like the basis of your earlier property, any additional capex required like HVAC or major repairs, output of cost segregation studies, etc.