In a Hard money / lender situation, you are gonna be putting $50k into that deal, they lend you $200k and charge you 12% and 2 points.

PS before the hedge funds jumped in about 2011 to 2012 I was an activce courthouse buyer in Henry county and a few of the counties on the north side of Atl metro so been to many of the  auctions having them all on one day is a cluster .. you have multiple criers crying sales simultainously it can be hard to follow but you can also squeeze out one that folks missed.. we did quite well until the hedge funds knocked us little guys out of the area..

To evict a tenant based on a lease violation such as hoarding would require you to notify them and then give them an opportunity to fix the situation.

How well can you manage multiple roommates?

The 2008 timeframe was different and in situations a lot harder than now, but this market will shape a lot of investors that found their new market, product to focus on, and/or to dive in deeper when times get tough.   

Not sure your living situation but something I would definitely consider if possible. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

And because I'm looking for a long term finance situation, I'm not looking for a loan that is going to have a really high interest rate, with hopes of refinancing later.

She has a charge off that expirian will not delete everywhere else deleted it so that blocked her from getting a heloc no 401k my dti is high because we used my cards What would u do in this situation?

@Bob Asad I like the individual sub account method escrow account, but there are multiple different ways to hold security deposits and multiple laws in different states.