She has a ton of units in Des Moines and still lives in the area so may be able to give you some advice on what might work there and what won't.

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

I don't think the typical sub-to deal would lead to equity skimming because they are likely close to foreclosure and there isn't enough time to rent the unit back out and make money allowing the unit to go to foreclosure.

Investment Info:Large multi-family (5+ units) commercial investment investment.

The unit is within blocks of Harvard University and a billion other universities are within a few miles.

So, landlords of exempt units don't even have to be concerned at all.   

@Jed Butikofer You need to find a market that has decent cash flow (think $200/unit/month) and become an EXPERT on that location.

I haven't booked anyone from FF this past year, but I might keep one unit open to keep the conversation open.

I'm not in that market so I can't speak specifically to it, but to me the deciding factor would be what the surrounding units and area has. 

.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.