@Thomas T.Make me under 25 again and I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

They mentioned that the family member began debt consolidation 20 months ago, the way debt consolidation works the company lets it go into collections I am concerned that if the person files for bankruptcy.Even just one of 3 family member file a bankruptcy 7, can they stay 3 to 5 months without paying rent?

I'm 3+ hours away and would hire a management company to take care of the property.

I would at minimum interview a couple of companies to see if they're a good fit.

What would you say are the biggest advantages of developing a solid core-4 vs. a more established turnkey company that are a few clicks?

If you calculated the mortgage payment already, then using a percentage in your analysis, you're going backwards. 

"Hello, I'm Gernide. I require a real estate attorney to draft a wholesale contract (assignment agreement) for two properties in St. Petersburg, FL. The contract must include a provision that allows for a 22-day perio...

I'm a managing partner at a company that can assist with this.

For example, if you need $7,000/month to replace your current income, and each property costs $250,000 and generates $300/month in cash flow, the amount of cash you'll need just for 25% down payments is $7,000/$300 × $250,000 × 25% ≈ $1,458,333.

However the tenant was constantly late with rent, the lease was written so that the PM kept all late fees (thus incentivising late payments), and after being assured that this was a good tenant on renewal, 6 months later I was handed a $3500 repair bill for the initial tenant turn.