So you might want to start with the attorney and see if he has a lease he already knows and likes.One thing for sure, put the prohibition on living in the space in bold type with a nice little initial block next to it for the tenant to initial so the tenant cannot come back and say it was intended to be a live/work space.

@Matthew Paul:Without getting too technical here, most general contractors actually incorporate and provide their services through an entity operating as a business or company of some sort.. so its not clear what your initial point is.

I wanted to wait out the winter to start on any repair projects but now while getting other quotes, I think the initial quote was very much under what I may be looking at to pay.

Obviously there is a lot to discuss on this topic, but for a very quick glance, here are a few pro's and con's to consider when thinking about section 8 rentals:Pros:Guaranteed Rent Payments -> The government pays a significant portion (if not all) of the rent directly to the landlord, providing a reliable and steady income stream.High Demand -> There is often a high demand for Section 8 housing, reducing the risk of long vacancy periods.Cons:Inspection and Compliance -> The property must pass an initial inspection and comply with health and safety standards set by the local housing authority.

Financial Goals: If keeping the farm in the family holds significant emotional value, this can justify the purchase despite the initial lack of cash flow.Investment Strategy:If immediate cash flow and rapid portfolio growth are your primary goals, BRRRR properties may be the better option.If you can leverage the farm’s equity effectively, it could still serve your investment goals while preserving the family legacy.Ultimately, the decision hinges on balancing emotional value and financial strategy.

So you are relying on appreciation which will occur in virtually all markets over the long term, but the initial appreciation will go to recovering the negative cash flow.  

Let's call this our Properties, LLC.If I understand correctly, I would have to do the 1031 Exchange into the "Renovations, LLC" initially. 

Same initial investment as above. 

I initially thought Fresno's peak was in the winter, but your info lines up with the data in their reports.

For example, propose a smaller initial down payment and larger monthly payments, which could free up some capital for the rehab budget.Partner-Investor:While not your preference, finding a partner-investor could be a viable option.