My 4 personal STR's are all in San Antonio did over $575k in 2024 and on track for $650k in 2025.I think you are generally looking in the right areas, but there are a few things to keep in mind:1) Stay inside of 1604. 

I briefly worked in commercial lending after I finished grad school and that really opened my eyes to the inner working of that industry.

Tell me - someone selling their home to your son, Subject-To - is this a person who has made good life choices? 

As of October 2024, 75% of remote work employees now have some sort of in-person work requirement, up from 63% in 2023 (Source).

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

I appreciate any feedback.Regarding Insurance, personally I would never have someone else (A Lawyer) handle the insurance on a Sub 2 deal or any other real estate deal for me, you would be setting yourself up for failure.First of all now you would need to get a POA for the attorney from the seller, that may not be your best move.

I was thinking if I can talk to my neighbor about sharing the cost (I, the landlord, personally provide labor and my neighbor provide material (e.g. fence pickets)).

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

Quote from @Jessie Dillon: just my 2 cents.. i'm not a fan of the syndication model. there are better ways to invest more passively where you have more of a say in what goes on, can achieve higher returns, and can have your personal interests at a higher priority.