A few things to keep in mind:Section 8 requires the property to pass an inspection based on HUD’s Housing Quality Standards (basically making sure it’s safe and well-maintained).The rent you charge has to align with Fair Market Rents (FMRs) in your area, so it’s good to check what similar properties are renting for.You’ll still be responsible for maintaining the property, but the upside is that a chunk of the rent is guaranteed by the government, which can provide steady income.Check with the local housing authority about any specifics for your area—every jurisdiction does things a little differently.This could be a great niche if you can find a good deal on the land and make sure your expenses (like maintenance, insurance, and occasional vacancies) are covered by the rental income.

Learn how to consistently hit singles and doubles, and don't be ashamed to take the occasional walk. 5 years is a very short time frame to go from no RE to financially free (although you may already have property, which is an awesome start). 

This is an IRA, just like any other self-directed IRA; however, it allows you to connect your IRA to the following: 1) You can use a checkbook IRA LLC type structure, for example, if you are purchasing individual rental homes, or an occasional fix-and-flip.

When you are consistently above 820, you may occasionally hit 850.    

@Tim Ryan  there is a remote chance that you will get that unicorn tenant that stays in the home for years does not have a bunch of kids that trash the place.. that can happen... however these areas are transient at best..one way to see that is look at all the disconnected dish TV lines many of these homes will have 5 to 10 of those that means 5 to 10 tenants in a 5 year period or less..STRONG property management does not specialize in hood properties.. they lose their butts on these rents are low.. much tougher to collect and simply not worth the drama....

Ideally, I’d have an Airbnb down there (for occasional personal use) but have received some feedback that an out-of-state Airbnb would be too difficult to manage.

For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.

Haven't seen a whole lot of people renting out detached storage units in Memphis but occasionally it does happen.

People have told me they have bought a plastic tub to put on the counter in order to do their dishes.

For the last 18 months or so there have been very few "deals" in my opinion so we have changed our approach and we are flipping and occasionally reselling with owner financing.