Here is what one of the new people I coach from Socal did with a property in Phoenix
I helped him find. He has taken his training seriously. It’s a Subto (Subject To) that I helped him buy “off market” and he chose t...

This is not personal, but if a person cannot save money now real estate is the worst investment to get into as it is one of the most cost intensive businesses to be in.  

Personally I would defer this question to someone with design experience, not sure I have seen too many on here commenting.You could do something neutral but remember especially with the rug if it is light color it will likely run quickly.

The best way to learn about how to really invest in real estate is to read books, listen to good podcasts, and pair that with going to in-person meetups so you can see people just like you, married with 3 kids, who are making it work for them.

The second part is very personal and different for everyone. 

I have not seen a significant difference in this area between section 8 and non-section 8 tenants, personally. 

I personally know the person that owns the property and am close friends with him.

Does anyone know an investor friendly tax/attorney person that I can talk to and can guide me through this process? 

@Jill KellerI personally owned and managed several rental properties, mainly one family, 3-families and been advised by a number of attorneys through the years to forget doing LLC's.

Hiring a lawyer sounds expensive, but it is way cheaper than hiring a amateur (in this case yourself) who costs you money and provides no results (and then you need to hire a professional anyway).My personal philosophy is to "do it right, or do it twice" and its way cheaper to do it right once.