@Levi HuiIntent plays a huge factor when "dealer" status is concerned. 

For example, here's the opinion from the legal department at the leading landlord association in California (CAA):Like I said, lots of things at play here, and these are just some of my own observations/opinions. 

= $324k  Ahhh so this is the assumptios that must play out for this to be a good deal, this rent raise and expense ratio actually being only 40% (this includes taxes and ins, turn over, maint).I've made much more money on SFRs....  

Your post is a bit confusing, are you going to purchase the property yourself then sell or are you looking at a way to play middle man without any financing? 

So if you think you can rent for $3K, your net over time will be more like $2250.I would take advantage of the great relo program & sell the house, then invest some of the proceeds in a more typical SFR play - $200-$275K homes in Austin. 

DM is also highly competitive so make your letter or post card stand out by playing to your strengths and your story. 

But like @Joe Norman said, Baltimore City was never an appreciation play.

Other than a credit card I can charge 10k on which my rate is currently 6% with USAA I don't have much to play with.

.- Syndications.Each has played a role in my experience, I can definitely speak to each at length.

You don't get to choose if or when you depreciate your income producing assets.Any mortgage underwriter worth their paycheck knows that they would add the depreciation back in to get the real profits of the rental, so that should not come into play at all.