I did have two called and we paid them off upon receipt of notice from the mortgage servicer/ credit union in one case.And there are many more gotchas bottom line if you have deep pockets this is fine if an investor thinks this is a no money down I dont need any money this is a disaster waiting to happen.

Or, should we wait to save up enough to start at a higher price point? 

I plan to just take the cash flow and wait out the market.  

I'll wait until something actually happens before I react ;-) 

Seven years is a lot of time for someone to cook meth in the bathroom and destroy a home.Why wait until the lease is over?

I was heavily involved in the renovation and am relatively familiar with the construction side.Our plan is to hold this property for long term and then wait for a couple of years to add more to the portfolio. 

I have been told that it takes two years on the waiting list to get a Section 8 voucher.

Hello BiggerPockets,I’m Jess, and I can't wait to get involved with this community.

Or, would you be required to wait 12 months from move in day of your PR.

If you’re still planning on selling but waiting a bit you may want to do the LTR strategy, perhaps on a month to month set up.