For example, if your driveway only fits two cars, you need to know if tenants plan to bring several vehicles, as this could lead to parking violations and HOA fines.Don’t forget to screen pets, too!

So adding this to my prospecting plan may provide reach to do deals that I may not have had before simply circling the usual watering holes.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

Second year distributions rise to 5.27%, third year 7.27%, according to the projections.Those projections may be at risk, for many reasons: the recent huge increase in interest rates -- increasing the cost of loans and decreasing valuations, insurance costs have skyrocketed, real estate taxes are up, labor and material costs for repairs & renovations have increased, etc.On the plus side, the majority of the ODC funds were designed to be high value add projects with plans to increase operating efficiencies, add tenants and raise rents.  

If you're planning on investing out of your area and will not be managing the property, why don't you look at better markets.  

I would say sec8 is the pinnacle of requiring great management, systems, planning and methodology. 

Personally I like to do things the "right way" and if you plan is to grow you may be better off hiring it out. 

l plan to use that money to start investing in real estate.

We have a decent plan working now, its just a matter of financing and scaling.

Like @Collin Hays said, it is being driven more by neighbors tired of poor STR owners not keeping things sorted.We only look for places in vacation areas with a long history of owner driven STRs vs big cities and the like.