You can buy another one any time in the future.As for appreciation that is pure speculation that could be -3% as easy as +3%.

(Pure education, zero sales pitch.)

I do not want to do pure rentals, so this is my perfered method to go farward with investing at this time.

I spent $30 on some pure pepper oil, rags, rubber bands sealant and strips of wood.

So purely on income alone.If 3 units give off 42,600 expected gross that is 14,200 per year per unit or around 1,183 a month per unit rent.Take 1,183 by 4 = 4,732 by 12 = 56,784 potential gross.Take away 60% of that for expenses since landlord pays the water.56,784 - 34,070 (60% costs) = 22,714 NOI which is purchase price of 227,140 at a 10 cap without having any immediate repairs needed.So it seems the numbers work for the purchase price."

These are purely my opinions and hopefully others can build upon this.

I was not aware an llc offered tax benefits, thought it was purely for protection. 

Don't get me wrong, they are still great rentals with good margins but the margins is just not as great as pure rental gold mine.I am looking forward to take a Chicago/Cleveland trip sometimes next year Jan/Feb.

@Chris LainoDepends purely on the level of work that's needed for the home.At a certain level of physical distress, you won't be able to get a traditional loan product due to inspection or appraisal issues.If it's just outdated, you can still use a traditional product.Below that, properties in severe distress need to be purchased with a rehab loan or a hard money loan or cash.When the property is in poor condition, the deeper the discount.

If you want purely the lowest rate you can shop around w/ Quicken or the big banks.