I bought last year my first commercial building, a 12 unit, and it has been very difficult since inception.First year I had a management company that wasted a lot of money and caused me some large losses.

I bought it with 5% down as it was originally owner occupied and it currently has a 4.125% interest rate so all for principal, interest, insurance, taxes, and HOA I pay $1,942.38 per month, which is entirely covered by the rent paid by the tenants.

@Philip Williams where I’m at I’m very new I’m 23 and just bought my first property in charlotte NC.

I bought it in 2004 with my first rental and then bought a couple updated versions later on.

So here’s the situation:My husband and I bought a SFR under an LLC in a transitional (early stage) neighborhood.

I just bought new house for my family.   

If you bought it to fix and resell its ordinary income. 

Everyone I know pays cash.Disclosure: I have not bought at a tax sale personally, but I know people that have and that's what I'm basing my info on. 

I have a Seller who's held onto a property that he bought a tax deed interest in Georgia in 2012.

He bought it out right a few years ago, fixed it up and just today got an appraisal back for 93k.