Get the deed in your name from the jump and yes you absolutely need a limited POA.I've done dozens of subject to deals and it's really the only way I buy due to the huge advantages that exist but there is a lot of things that can vary depending on the circumstances that would take too long to discuss via bigger pockets so feel free to reach out if you want some direction and I can provide you with the forms I use.

Most folks feel comfortable at a year but there might be some circumstances in the scenario of your portfolio purchase that might warrant you changing your intent. 

These limits cannot be extended for any circumstance or hardship except in the case of presidentially declared disasters.""

There are some lenders outside of actual banks that have special programs that will get you a grant that can cover your entire down payment under certain circumstances.

She can make the distinction between: "I will manage that for you" and "I would *like* to manage that for you" (it's a BIG distinction).And the reality is similar to what @James Wise mentions, PM isn't exactly a high margin business. 

@Lamont Aiken In 27 years I’ve had exactly 2 tenants come to my house for extenuating circumstances.  

The reason why I bring up this point is because I have read that in certain circumstances, you can only apply passive loses or depreciation towards passive income and not active income.

the standard is intent with no statutory holding period but most folks feel that more than a year is good unless justified by other circumstances.2.

@Naina Tara,The answer is yes and no:-) As my own circumstances have changed, my thought process has changed as well.For the yes answer, when I first started working and decided to buy a home in the San Jose area, my goal was to buy as much house as my money would allow.

Or under what circumstances/dollar point would they be a good deal?