It requires no money upfront, so you will join thousands of others trying to do the same in your market.

The good subs in your area will likely have plenty of work already and may not even return phone calls.

No STR regulations How did you find this deal and how did you negotiate it?

While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product.

Let me know if you'd like to meet up and I can give you my free advice no strings attached.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Because the strategies of 10 years ago no longer exist?

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

If I do buy a house I'll probably be close to house poor with no extra money and probably won't have an opportunity to invest in real estate for a while since most of my money would be tied to my house/townhome/condo.

No eviction in the past 2 years. - Minimum work history: 1 year (please provide references and pay stubs for the past 3 months; if self-employed we can discuss alternatives to paystubs)