That being said, I've flipped leasehold condos before- both by keeping them as leaseholds and by buying out the fee.

But this will depend on the area that you are buying in.

Also, I've always wondered why arbitragers don't negotiate an option to buy upfront?

I try to help people with their issues even if that means I dont buy the house.

Hey @Andrew Self Are you going to buy a property through an LLC or your personal name?

I wouldn't buy existing.

Quote from @Noah Davis: Hi Everyone,I am looking to buy 10 investment properties this year.

The biggest question you need to ask yourself is if you are doing this to afford a property you otherwise couldn’t afford or to save money period, that will lead to very different conclusions about where/if to buy. 

It is exactly what it sounds like, buying a property that has an existing debt on it.

The best combination in my opinion to have your real estate agent income in an S corp to reduce personal income tax (as long as it financially makes sense) and then buy real estate and cos segregate it and take bonus depreciation to offset against your income.