I now have a firm policy of no reviews, no approval.If you wanna do long term, make sure you have a proper long term lease with all the bullet proof clauses.

I hear risk mitigation and taxes often....from what I understand (but could be wrong) pass through entities like LLCs don't impact taxes all that much and a good insurance policy is much better on the risk management front than an LLC that may or may not be ran properly.

I wrote an entire post on how to properly structure "Cash Purchases" that you can read HERE. 

They have a huge library of free information on how to properly set up leases, rules, handle situations, etc. which we still find helpful when managing for other people.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Run a soft credit report and not a hard credit report; the soft report will not affect your credit and we can still analyze your scenario and properly advise.

Tracking down the buyers for signatures, providing the proper disclosures and addenda, explaining that all inspection reports are 52 pgs, etc was really draining on me.

Lots of options near brown field https://www.sandiego.gov/insidesd/construction-begins-landma...there are a plethora of opportunities for those with vision, able to properly access risk/reward benefits, and work it (mostly at this stage I do not want to work real hard for my returns).    

To address these issues, the lot needs to be properly sloped to divert water away from the building.

@Sunghee Shin we handle over 100 S8 rentals in Metro Detroit area.The main problems with S8:1) Tenants not paying their portion of rent and utilities2) Tenants damaging the homeBoth can be decently mitigated by properly screening S8 applicants.