Any advice on whats the best way to reach out and any risks or tips to consider before investing in a property that needs a lot of work. 

A few tips to get started: focus on networking with local investors, attend meetups or join online forums, and consider reading books like "The Millionaire Real Estate Investor" or "Rich Dad Poor Dad."

If they put up any sort of resistance, that could be a cue to start digging a little deeper and documenting a bit more thoroughly (hence the doorbell camera coverage tip I put first - installing the cameras right away and then having the new lease conversation with the tenants afterward is very easy to frame as "I'm just a new owner putting some TLC into the property and doing my due diligence on the leases/tenants"; talking to your residents first, finding out they have extra people living there who aren't on the lease, and then installing cameras around the property could set you up for a very adversarial relationship with your inherited tenants). 

Thanks for these tips!

Additionally, if there are any resources or tips you'd recommend for a beginner like me to excel in the REI bookkeeping realm, I would be grateful for them.Thanks in advance for your guidance!

If you have any tips about house hacking or real estate in general it would all be appreciated!

These are great tips, Allen!

Tip: Murphys Oil Soap might Clean that paneling like new.

These are just some tips to help you decide on weather you need active income still or not.

We are at tipping point to return to recession.).Seems to me (at least in California) like the past 10 years have been in EXPANSION but inventory remains low.