First, I schedule an inspection, quickly.

In this option your agent would either get paid from you directly in your closing costs OR from the seller via seller concessions.like Russell said, if you are comfortable with the transaction and understand what you are signing and you don't need things explained and you have connections with inspections and title companies then go for it.

That’s half the cost of Prime’s reduced rate.2nd, like everyone is saying, the cost of setting up and LLC is less than $100… closer to $50… if you just do it yourself through the state (not complicated).3rd, if you want someone to help you draft your operating agreement, hire a local real estate attorney and it will be significantly cheaper than $1660… probably cheaper than $550.4th, if you want someone to do your taxes and help you get your max deductions - talk to a CPA who specializes in real estate and they can review your operating agreement to see if you’re setting yourself up properly, and they can do your regular taxes… and be cheaper than Prime. 5th, a separate CPA can work with you regularly to review your investments and strategies to determine good tax strategies as you look to execute any deals. 6th - don’t lock yourself into a crazy subscription model before you start making money!!!

Once the tenant applies for the unit, you'll have to work with the tenant and Section 8 to get approval, which always includes an inspection of the unit.

Also recommended getting a home inspection. 

You have a 200k equity buffer, so you should be able to get closer to 130k from a LTV perspective - but will your rent amount cover that new loan?

Hi Jenna, I would consider investing closer to home.  

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

Are they giving advice about the policy and inspection? 

Focus on understanding the rental market, conducting thorough property inspections, and leveraging owner-occupied financing options like FHA loans.