If it's in disrepair and needs work before you can market it - things get rather unfriendly to you tax-wise.Next - what are your travel expenses?

I live abroad in Bermuda and I'm currently unable to buy property there due to restrictions and transaction taxes.

@Nick Belsky how are you seeing lenders underwrite the rental income for SRO?

Tax deductible improvements such as drainage tile, terracing, irrigation can significantly improve the productivity and the value of the land.

The land was owned by The State because tax delinquent.

I am trying to obtain and generate additional income, and expand my portfolio, and am seeking advice on some decisions and choices I need to make to help to accomplish this. 

Apt 2 rented at 1300/mth (2 bd)I would call the rentals B-/C because they are in a giant metal shop and low grade materials.So gross income of 76K annually.Expenses:Insurance is currently $14652 annually but that seems way too low when SFH go for that muchTaxes are currently 2800/yr, but I expect those to nearly double if I pay his asking price (so let's say 5k/year.

The eventual income from real estate will supplement our retirement and SS so we can do the things we want to do with our time.The best part is our kids will be in a much better place financially due to this and it can change our family tree forever.Funding:HELOC on CondoW2 JobsLightStreamEstimated Equity:4/18/2023 - $165k4/19/2024 - $207kEstimated Value of Assets:4/18/2023 - $232k4/19/2024 - $1MNothing wildly impressive for equity growth, but if our portfolio property values average 3% growth annually, we are getting $30k in appreciation instead of $7k.

It’s also important to sit down (or have a virtual meeting) with your accountant on a quarterly basis to review your financials.Tax deductions are maximized.Ensure you’re getting proper tax planning done throughout the year, so you are minimizing taxes.

Tax benefits2.