The exact steps depend on the nature of the defaulted debts and on your local laws.State income tax planning.

The beauty of REI is there is no need to make the mistake my wife I  made early on thinking we could do it ourselves. 

Typically rates are 0.5%-1% higher than the full conventional loan, however the beauty is that it requires less documents and quicker close.

Here’s where it becomes a thing of beauty……it looks like I’ll be working with him on more deals just like that this year.How many deals do I need to make that a 6 figure income stream?

This will give you a clear idea of what the house might be missing, and or need and gives you time to make those changes/additions before your first group.Another tip: I think it is natural for bigger properties to have more vacancies during the week/slow season.

That's the beauty of passive investing.

This purchase will be up ~1m over purchase price after this rehab is done (3 sources: 1) purchase below value (or value add from addressing the rent issues - depends on your perspective) 2) value add from 4 class b+ unit rehabs 3) natural appreciation).  

And better yet 80%+ of this asset class tenants are home owners by nature, divorcee's in process, there living standards are home-owner conditioned. 

Congrats - beautiful job on the porch

Its just kind of the nature of the beast and investing were over 50% of all homes are rentals its a different lifestyle than what we are used to at least on the west coast were maybe 10% of SFR's are rentals  renters rent apartments.