Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

Your offer should be based on your DD and modeling the deal following your investment thesis.

Picking up flexible part-time jobs to qualify for a mortgage is definitely a smart move, as conventional lenders typically look for consistent W2 income.

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

Yes it needs a closet and a point of egress to be considered a bedroom, and more bedrooms typically equal higher appraised value.  

Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).2.

Although Reunion community does typically cater to a different demographic so it won't be as much of a pitfall. 

If the issue continues, consider offering a formal payment plan or seeking legal advice.

I would take them out to lunch, explain what you want to do and see what guidance they offer.

Step 2: Narrow down your "buy box" (are you market-indifferent, are you looking for a certain level of cash flow, etc.).Step 3: Connect with real estate agents and begin making offers!