Certainly nothing ground-breaking in terms of ideas here, however I'll be very hands on (and on site) during the process to make sure that every step of the way is executed to a high standard and very carefully.Once I've hopefully developed a successful track record and gained experience, my next goal would be to move on to commercial assets (think multi-family, industrial etc) so that I can leverage my existing investor network and real estate knowledge to raise 3rd party equity and take on bigger projects.

I've done a lot of value add as well so that helped speed up the process.

Here’s what I know so far:My father-in-law is offering to finance the property purchase, but I’m still clarifying whether that means 100% financing or if he expects a down payment.We haven't yet decided whether to purchase as individuals or through an LLC.I’m also in the process of discussing the specific terms with him (monthly payments, amortization, balloon payment, etc.).Could you share any advice or insights on what deal structure might work best in a scenario like this?

But what happens when:A tenant stops paying, and the eviction process drags on for months?

Real estate is transactional where people are involved so it won't be a black and white answer.The best to do is to find an agent that fits your needs and guide you through the process.

How feasible would it be to transition her to Section 8, and how long could this process take in Brooklyn, NY? 

There are attorneys who will help navigate the process for you and act as an orchestra conductor to keep things moving along.

Having an exit strategy can also just simplify the process in case one of you has a life event and needs to exit the deal.

If you use the unapproved documents terminating the lease and it leads to an eviction, you'd be wasting your time having to redo the process again.

Any questions you have throughout the process.