Any specific areas of Columbus? 

Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.

Unless you find a buyer with a very specific criteria who is willing to pay above the typical 70% - repairs.

He’s also interested in staying in the home if possible and deduct the rent from the balance he owes.

Quote from @Kristi Kandel: Quote from @Jay Hinrichs: Quote from @Kristi Kandel: Quote from @Manuel Angeles: When developing affordable housing in California (more specifically Los Angeles), how complicated is it to raise capital using subsidies?

For example, are there specific documents or information I should prepare, or would identifying a target property first be more beneficial?

My advice would be to specifically retain a potential eviction attorney from the start, in order to be prepared for how this *may* go. 

It appears there are still opportunities to buy good properties in decent areas, though I’m sure it’s important to be very specific about locations.

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

For a long term investor:Would it make sense if you could buy the home at a steep discount and then let the owner stay rent free for a specific period of time?