Quote from @Arun Maheshwari: Hi,Does the bank owned foreclosure property allows to put Inspection contingency for big issues like plumbing, eletricity etc.ThanksIf it is bank owned and the foreclosure has taken place - possibly but they would make you responsible to turn on power and water and turn it back off.

(Banks typically want to see 1 Year+ leases).

When you are on the commercial side of the bank, and borrowing on the bank's balance sheet, they have a lot more flexibility to how they handle loans.  

There’s a good chance that if lender finds out of property transfer via title records, insurance policy beneficiary, bank account submitting mortgage payments, they’ll assume that John  Smith formed a trust to own title and will not flag the  file for any action.  

First, the bank won't even talk to you without some formal authorization from the owner's estate.Since the owner died intestate, her estate will have to go through probate.

I use Stessa for accounting, I love it, it links right to my bank account/credit card accounts and I can assign purchases to different properties and units of the property for multi-unit properties and at the end of the year I have a simple report to give my tax professional 

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.

Just try to get that interest rate from a bank. 

There are MANY good SDIRA companies out there across the US, and its not like you need to walk into the bank to cash a check.

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.