Here’s my honest advise; consider studying for and obtaining your real estate sales license, and obtain a part time position with a real estate agency that will provide training, guidance, and oversight.  

I would greatly appreciate any guidance, resources, or recommendations you may have for someone in my position.

@Surya S KumaresanYou're in a great position to grow your real estate portfolio in Atlanta, a market with strong appreciation and rental demand.

Luckily, my wife and would be in a position to buy their house from them at fair market value, if that is the best option? 

& thank you especially for the positive affirmation, Collin!

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.

You can find positive cash flow in both markets. 

This is a good opportunity in a strong market, and with your excellent credit and HELOC funds, you’re in a great position to make this project happen.

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

So lets hope something positive happens, but also make sure to plan for the worst case as well.