Acquisitions costs are low, property taxes are low, available housing stock is good, and there's always a need for workforce housing and rentals for young professionals. 

It's pretty hard to invest with $8k since most lenders have a $100k minimum loan amount, meaning you will need about $35k to buy a property after the 20% down and the associated closing costs. 

@Steven Catudal You are free to deduct and will probably get away with it.Do keep in mind if the tenant sues you hold very bad cards for court.

You're doing better than 99% of the board here, just by owning this debt-free.

Feel free to DM if you have any questions.

I own 7 properties (8 doors) in southwest Pennsylvania free and clear. 

@Amy Lin - If it were me I would have an experienced attorney start the eviction process immediately.They are probably going to hang on as long as they can rent free as they have the closing proceeds.They might care about their credit if they do plan on buying another place, so you might have some leverage there.

LMHA is relocating residents from Dosker Manor due to mold, rodents, and crime.Dosker Manor will be torn down, and residents will be moved to other accommodations.LMHA surveyed residents; they need help with medical care, groceries, and financial management.Relocations will start in August, with around 600 residents moving over 18 months.The first 100 residents will move to LMHA-owned properties; the rest will go to low-income housing.LMHA is covering moving costs and offering reimbursements up to $1,300 for self-movers.

Hi Matthew, start with any free resources we have like social media etc. follow industry leaders and maybe you might interested in my book happy rich and healthy book not just for real estate but also start building wealth without sacrificing your health.

If the property can be sold, pursue a short sale for its current value whatever that may be after considering the cost to remedy these issues.