Since you are only doing face time viewings I am not sure of the cadence you are doing these but I would bump that up to be as frequent as possible if going physically is not feasible.

For this property, you would be wise to incorporate the income from the other units against your debt service to make the property more attractive to lend on.

Doing an OOS renovation is even more challenging - you can't physically check on the property unless you fly out there frequently.

#2: If I had work done by a contractor who was Incorporated (e.g  ABC Construction, Inc) of over $600 do I need to do a 1099 for him?

Perform your banking wherever is most convenient to you not based on where the bank's physical presence is located.

Hail coverage is unfortunately getting really expensive (like $5000 deductible).As for vacancies, call around to multiple PM companies and ask about economic vacancy, not just physical vacancy.

Properties sold to Fundamental Partners for about 12% below foreclosure value.I wonder if 12% will be enough to weather the storm.I believe these are Fed Low Income Rent controlled, I wonder how much longer that will last (with no ability to raise the rents).There looks to be quite a bit of Physical Damage to some of the brick walls, and the Trash from the pics looks to be piling up to the clouds (Citation Level).I wonder what the occupancy level is, as there seems to be lot of mailbox doors swinging in the wind.Were these guys hand picked by the forecloser to take this over, or did it go to open bid with another lender underwriting a new loan?

Think of "driving for dollars"—that is, physically searching communities for foreclosed or distressed properties.

Also, S-Corps are apparently more corp-like, and its not advisable to hold real property in corporations.

So, given that you are a general contractor and master electrician, the obvious strategies that come to mind involve physical rehabs of a property.