Together we make about 120k-ish and as were doing this, were actively paying down our credit card debt which together is about 20k at the moment, just fyi.I feel like this is a solid plan, but I'm not too big headed to admit that I don't know everything.

@Chris Seveney basically treating it as a sale of assets and having to pay capital gains.

If you treat this like a hobby, it will eventually cost you a lot more than you want to pay.

- sounds like your friend's PMC pays this way.If W-2, why isn't your business properly insured to cover him?.

We want to use proceeds from our flips here in Central Oregon to acquire and eventually pay off properties in a more affordable market.

It gives you one property that can potentially pay for itself while putting a roof over your head and giving you experience as a hands-on landlord.

Not a lot to add here, just the simple advice to make it as easy as possible to pay rent. 

If a servicer, continue paying as agreed and allow the servicer to sort out the issue on their end.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

One would also pay 10% ish fee to convert foreign currency to USD.