I doubt he'll be able to quality for a loan (VA) with just his income. 

They were not terrible, some people would call them C minus, and it wasn't even that much about financial considerations at the time (appreciation was not a thing back then in Milwaukee) but just not what I wanted to own or manage, so I sold them to them tenants - after quite a bit of financial coaching to get them to qualify for a loan.My standard advice is always to buy the best quality property you can afford.

This cushions potential value drops.Syndicator vetting: Only partner with syndicators who have a strong track record in different market conditions.Market and asset class knowledge: Understand market cycles and the specific real estate types (multifamily, industrial, etc.) you're investing in.Avoid chasing trends: Just because a market or asset is “hot” doesn’t mean it’s solid.You’re right that this approach doesn’t cap your upside, quality diversification can still generate huge returns while managing risk.Best regards,Drago

I would encourage you to speak with property management professionals and a property management attorney to get an idea of what procedures you should have.

At a minimum,  you should understand what the current zoning is and what restrictions there are.As the post above mentioned reaching out or going in person to speak with the planning and zoning department will be very helpful. 

Nobody likes to work hard in the heat.The biggest concern in the past has been winter, but 2024 was the warmest year on record and we have seen +3F on average in every season, which really took the edge of winter (you can call it brown grass season now) while summers are pleasant 75-85F.The cost of living is low, yet the quality of live is relatively high.

My guess is that if it is a STR, they probably don't want them either and it would be more work for them to take them.Generally speaking, I like to put my own touch on everything.  

it will show you how many times it was sold and how much they made (usually millions)Hi Laura, would you please recommend a dependable service who would produce accurate, high quality, court-ready documents?

We attract high quality tenants. 

But generally speaking with the new landlord rules etc I wont fund occupied houses whether at auction or non Auction I want them vacant before we fund them.