Don't reduce rent for longer terms.

If so, how was the lot with the house on it impacted in terms of market value? 

As is price point.. this will give you a better long term outcome.if you buy way under median your getting into renter dominated neighborhoods and schools for sure will be bottom ranked.. instead of going East have you considered Vegas.. lowest prop tax's basically in the country. no big weather issues  desert landscape super simple to take care of.. and Stucco homes with tile roofs no big thunder and wind storms to ruin roofs etc etc.. you can buy nice rental house there is a solid B location for about 300k. just worth checking out if you never have..

Holding Period: Short-term vs. long-term holding affects tax treatment.What challenges have you faced with taxes when flipping properties?

Based on conversations, CRE could be a great option long term but I may be locked into a lower income in the short term and the potential for earnings are more dependent on my production in the residential space.

RE investors have a tendency to overbuild capacity during boom times and we've had a long run so far.  

Does anyone know of a list site that will provide targeted lists (that are not a scam) like:- Owners of houses who have owned thier homes for over 20 years (posssible repair problems so they might sell for less, or possible free and clear owners who might sell for terms)- Non-owner occupied (burned out landlords)Then one could do a direct mail campaign.

One thing everyone reading along should consider is how long it would take to repay your investment in a $10k, 20k or even 30K class by earning 5% on your money.

Idea of long term buy and hold investing, building up equity & future cash flow.

I am on my second house hack and to be honest, the first one was a much better deal and makes more sense on paper BUT I got exactly what I wanted in terms of spacing, layout, and location for the second so it checked off a different set of boxes.