My manger does this all the time.He has an inspection done to verify all the maintenance issue and has someone video the property to verify all the marketing issues.

@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

What is the typical minimum investment requirement?

The great part about contacting the CDC directly (and a large one such as TMC) is they can make referrals to banks that would be interested in your project (i.e. banks that have been actively doing SBA hotel loans)...rather than you having to chase down the bank first, which can be very difficult.Regular commercial lending requirements are applicable (will vary by bank):1 - no bankruptcies2 - no foreclosures3 - FICO > 7004 - net worth >= loan amount5 - post closing liquidity >= 12 months of P&IIf this works out, you are going to be glad that you made this post.

2) Maintenance Reserves: So many factors here to consider!

Actual foreclosure is on the East coast a Sherrifs sale and you can google the state and sherrif sales and the rules will be on the websites.. but its one of two process's either it requires a non refundable deposit if your the successful bidder or you need full cash at the sale.

I budget 10% of rent for repairs, maintenance and capex.

.- Creative Financing Solutions:Options like subject-to deals, seller financing, and syndications can lower capital requirements and increase your purchasing power while providing flexibility for properties with complex financial situations.4.

This route requires more attention as you will need to ensure that you are finding good deals wether they are on the market or off market.

I'm not sure if they still have the 2 year requirement on income if it's going to be your primary residence.