You’re not alone on this journey, and there are so many people out there who are happy to share their experiences and help you succeed.You’ve got the drive and the vision, and that’s half the battle won.

Make sure you get a good lease and are sending NTV's as soon as you smell trouble!

Regardless, the lady who has possession now is not going to turn over the property without kicking and screaming and probably a court battle...if it went that route

Choose your battles wisely.

I myself back 15 years ago was involved in a running legal battle with the HOA of a unit I obtained ownership of by note foreclosure.  

Tenant claims they don't know, initially a pro cleaned the carpet which actually spread the urine smell everywhere. 

Not the right person to support you.Disadvantages1-2-3-4-5-6-7 all true and possible, this smells like opportunity, probably more risks than that....and property is more work than T-bills.Advantages....1 is possible....not sure I understand 2....no cash flow from your side if you have vacancy.  1031 defers taxes not eliminate it, but there are ways perhaps, for example if you get big enough and 1031 into QOZ you have the poential to eliminate 100% of the capitol gains taxes.#4 you forgot about leverage....for the most part you can't leverage T-bills, maybe 50% on ETFs. 

Half the battle is starting.

Mostly just went with my gut I bought it during a crazy time single family homes are being bought only hours after coming on the market I had the choice between this house and another the other was slightly bigger with a basement in the porch but the roof did not seem bonded in my Spidey senses told me there might be Foundation issues in mold due to a smell while inspecting the house admittedly the house I bought is 950 ft has no basement and is a two bedroom one bath with a detached garage How did you finance this deal?

That property was run down, smelled funny, and it looked like the cheapest materials were used in there which are just going to fall apart year after year.