@Sheila Vardakis I’ve been looking for a simple system to get set up with at our office.

Thanks in advance  Hello, I do not have a " system" I simple buy more, not really sure what system one would need.

We also have a pretty good relationship with all the neighbors which I'm sure helps.The reason for me not getting a permit once obtaining this property is very simple -- I was given this house from my father, and the town that I'm located in, you're not able to get a rental permit unless the house is owner-occupied.

I like to tell new investors KISS haha Keep It Stupid Simple.

I am currently involved with a simple single-family rehab adjacent to a larger ground up project.

But your plan is pretty simple and straightforard and should be enough to help you/someone get started!

@Kyle Rucker- thanks ....you will have a tough time locating a 2nd loan for  180K +  ....Ask the realtor you are working with for options ...Make sure that the lender holding the FHA loan will be able to approve your assumption  request  ( this can be a long drawn out step ) .....if you do find a 2nd mtg - compare the fha loan and 2nd mtg  to a  simple new FHA or conventional loan as there may not be a large difference 

In the past, I have owned residential real estate in remote locations ( other countries than my own ) and been successful in buy-and-flip, buy-and-hold, and some simple small-townhouse developments.

You WILL be adding $1,000’s if not $10’s of thousands in additional costs (accounting, insurance, banking, and financing will all cost more.)to protect the equity in the properties that a simple umbrella would have protected. 

Look, it's simple, how much does a tenant nightmare cost?