While you assert without any evidence (okay a single data point) that leases are "soaring", there has been evidence brought to this forum numerous times that there is an oversupply of high-end apartments coming on line this year. 

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@Leon Li  When you assert that one small misstep and the LLC is worthless because of a technicality you are forgetting one major thing; the other side has to prove that and get a judge to agree in court.

Also I am not sure if being a live in landlord a good idea in our profession and how much more work would that entail. 

just curious, what did the $4300 in repairs entail?

A full gut would entail more complicated electrical, plumbing, and structural work, and you'd basically be rebuilding from scratch, starting from the studs.My personal recommendation would be to stay away from anything with severe foundation issues, and also make sure you understand the condition of all the big ticket items such as the roof, HVAC, water heater, and electrical/plumbing systems before making an offer.

. $20k seems like not much work but a lot depends on what the scope of work entails.

That said, this will be my first time doing a Subject 2 Deal and have done some research on it and have a pretty good understanding of what it entails but just wanted to know if anyone had some experience with it that could tell me somethings to look out for that I might be overlooking.

The county site, parcelquest offers transaction details for $19.99 but doesn't say what those entail. 

I'd take care of the materials costs, knowing what I want, and he'd just have to show up with a promise of cash upon completion.Yes, knowing exactly what a job like this entails is a big part of what helps make DIY investing profitable, but it illustrates a good point.