@Stepan Fedetskiy section 8 can be good option if you have a good PM who maintains the property in good shape all the time as per the needed standards. best part is govt pays a portion of the rents so you dont have to chase tenants, downside the upkeep of the unit will eat up appx 20%. so its little tricky..sounds good on paper but when you go through one you will get an idea. i had 4-5 section 8's , 3 of them had no issues, but 1 of them had lot of issues and ate up all the profits.  

And that's even using the high rent estimate, a low vacancy rate (8% would be more realistic), and a very low property management expense (10% of rents is pretty standard), just for starters.If you personally were going to live in this property, it would likely be a slam-dunk...... but, as an investment, it's a money-loser!

However, this is less common for standard FHA loans.

That has to work fast, smooth, and to a certain standard. 

In Texas, the standard earnest money when agents are involved is 1%. 

Or, you could just sell, now, today, standard sale.

This ensures that you adhere to legal and professional standards in property management.

That's why you do have to hold a certain standard for what you will and will not do or replace.

Do any of you have a standardized process, workflow, or checklist that you use to run these deals?  

Depreciation Acceleration: The standard depreciation for residential rental property is spread over 27.5 years.