The deal:Actual purchase price: 80K (cash purchase / may refinance later)Units: 8 (2br/1ba each)Rent/unit: $350/moManagement: 10% to manage / nothing to place tenantsTaxes: 1600/yrInsurance: 1200/yrFlood insurance: 2400/yr (yes, it's in a flood plain near a river)The positives:Solid management in place (for years) that is eager to continue.

I don't want to play financial advisor but at the same time, help them get on track to save up, get credit straight, etc.

And you would also have to do 22.5 continuing ed courses every 2 years, so more money out of pocket.And there are fees for the state license every time you renew.There isn't anything preventing you from buying and selling your own real estate as an investor without a license.

Thank you for responding and please add your continued thoughts. v/r

But when that mood leaves, will you be disciplined enough to continue doing the boring but necessary things to keep you progressing toward your goal?

I hate it when I am thought to be played like a fool.

@Tony Roddenberry you can get a CSS for SFR with $500-600 and that expense value vs the accelerated depreciation you get is something for you to judge how it plays in your larger tax strategy. 

I also, can continue the eviction if the bank doesn't carry it out.4 bed 3 bath 2400 sqft with over an acre of landpurchase around $205k  ARV of $360-400k with an estimated reno cost of $50k The Unknown:for being an REO Occupied property, there are no interior pictures so I was only able to see the one picture of the exterior of the home (luckily enough I live a mere 15 minutes away and can check the exterior and neighborhood better)Connecticut has a crumbling foundation issue with many homes (crossing my fingers but also researched a little bit to make myself feel better)How much reno will be needed? 

After that, if there's a basis for us to continue the conversation, great.

It cost thousands of dollars to get started and maintain your license as well as the recurring continuing education you must put in every 2 years (at least in AZ).If you're looking to get into wholesaling or buy and holds, it probably won't benefit you as much as if you were a flipper.