And that value is two-fold: firstly, you get the value of newly upgraded property (and you don't close until the rehab is done, so that vacancy time isn't on you), purchased at market price, that (if you finance) your tenants will pay 75-80% of over time; secondly, you get the psychological value of knowing that someone else has skin in the game, someone who absolutely knows what they are doing and has efficient systems in place to ensure you do as little work as possible while still collecting monthly income.

They have more skin in the game then you do.Make sure you get clear title.

One worked for a company and got an esop sellout and got a big check and paid us off the other the family rescued it.everyone else lasted on average 6 months a few went a year or more but that was rare.. we would let them stay until they moved or stopped paying we never gave them a drop dead date.. did not need to.once you get into this end of it you will realize folks that are 3 days from losing their house are very poor credit risks and rental risks.. even though you let them start over their bad habits just surface again.Maybe thats why Oregon made it illegal to rescue and rent back I don't know.but talk about drama holly man.. 

On the surface of it, that makes it look like you paid too much for them to begin with*. * [Not a habit you'd want to continue].Might going into a joint-venture with a developer (who'd build on the lots) help?

BUT toilets are cleaned everyday and the crime scene would not be much worse than that.HIV would not be the major concern because it is not stable on surfaces.  

We dont paint because no painted friction surfaces are allowed herevby the lead compliance people so those rubber treads would be needed too.

Inspect it well, looking for structural issues, termites, etc. stuff below the surface.

I’ve had the idea of house hacking my first investment, Just to get a feel  and some skin in the game.  

They have more skin in the game then you do.Make sure you get clear title.

On the surface, someone may suggest just using their overseas cash, but the tax implications are too great.