The problem is I Don't know what kind of contractor is nessary or if it's multiple contractors.

Bad tenant situations happen but like tires you can prepare and you can learn to manage property such that they happen less often and with less impact on you.

I have a strong network here and know the key players/stakeholders in the community and am trying to learn how I can get involved to make an impact to change the community and restore the existing (beautiful) infrastructure. 

Real estate is a business and needs to have systems.As a passive investor, the key is to select qualified sponsors who have multiple full cycle deals who align with your goals and values.

@Loan NguyenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Fixing and flipping, wholesaling, and working with cash lenders and contractors is a powerful combination, and it’s clear you’re creating value from multiple angles.I’d love to connect and explore potential collaboration opportunities.

Revisiting this post, I would strongly recommend any service-based business where you can buy in at a low EBITDA multiple.

Common rookie mistakes can impact your property value, income, time, and sanity.

My new bookkeeper initially thought the multiple checking accounts was weird but now she has come around to seeing how easy it is to get detailed reports and information about each individual property this way as opposed to having one operating account for all properties.

The best strategy depends on your goals, but here’s a breakdown:Selling outright would result in paying capital gains tax and depreciation recapture, but since the appreciation is minimal, the tax impact may be relatively low.Gifting the property to your son could potentially allow him to sell it with a lower tax rate, but since he hasn't used it as a primary residence, he won’t qualify for the exclusion of capital gains tax on a primary residence, and you'd need to account for gift tax implications.1031 exchange could defer taxes, but you would need to purchase a like-kind property of equal or greater value and meet all the IRS requirements.