I reverse engineered some of the Broadband Broker algorithms and could back-test against their whole sample set since I had all the HUD held-for-sale data on my PC.

Dont' forget you can 1031 into a DST to "park" your funds if timing/consolidation is an issue, for example.I THINK you still need a Will, especially if property is across multiple states.Is your father a NYS resident? 

Also, make sure you spend the time building a solid team (agent, lender, property manager) and run the numbers through your team multiple times.

When I first started looking, I looked for a few years but just ended up buying a single family home that I currently live in and have for multiple years now.

And lastly, make sure the property management company has experience leasing and managing Section 8 properties, since there is a lot paperwork and processes, and I've seen experienced property management companies who do this stuff all the time, screw up on multiple Section 8 leases to where the tenant's packet expired because they were so incompetent.  

@Daria B.The maximum allowable non-judicial foreclosure fee for Fannie Mae in Alabama is $1,900, as of January 1, 2023.Again does not include filing costs etc but assume $3,000We have foreclosed multiple times in Alabama - it’s an easy state to foreclose in.

The noise from upstairs is annoying so next time I'd do more testing of the quality of soundproofing in the ceiling (older home so wasn't as good).

@Tosin Oluwatoye a good way to test out your location is to put the concrete pads down, add a 30/50 amp outlet and water line, and then rent out the pads to people who already own their own tiny houses.

they are one in the same .. private money technically is someone who is not in the business of lending money and does only a loan or two a year.anyone in the bizz that does multiple loans is a HML.. rates very.. with both.

Overlooking Minor Repairs: Small issues like broken window locks, missing handrails, or leaky faucets can lead to inspection failures.Incomplete Documentation: Always have the necessary permits and contractor receipts for renovations and repairs.Neglecting Lead-Based Paint Testing: If your property was built before 1978, it may contain lead paint.