Becoming an S-corp has some downsides including additional tax prep fees, payroll processing fees and lower social security income in retirement. 

It isn't having paid off properties that offers security, there are still taxes, insurance, maintenance and management involved. 

Home Equity Loan (HEL) or Home Equity Line of Credit (HELOC) – You could tap into the $150,000 in equity to secure a $30,000 loan.

Since your name is on the deed, you have a few options to secure financing for the rehab:Home Equity Loan or HELOC – Since the house appraised at $500K and you own it outright, you may be able to take out a home equity loan or a home equity line of credit (HELOC) based on the home's value.

I own two properties there, but insurance costs have skyrocketed.Lately, securing home insurance has become increasingly challenging due to the high risk of hurricanes, flooding, and other factors.

Then you are stuck getting someone to secure the unit if they do that.  

Networking and securing the right financing will be key to getting that first deal done.

Here security deposit and most of the first month's rent are supposed to be paid by NJ Victims of Crimes.Fast forward now:- she did not pay her rent of January.

Secure Smart Financing – Consider FHA, VA, or conventional loans for small multifamily (2-4 units). 

The more you can make your screening objective than subjective the easier and more successful everything will be. long story short, I called her previous landlord to check her rental history and I was told that this applicant steal a package that wasn't hers and she denied it  even they had proof of her stealing it on the security camera other than that she paid on time every month