Work with a qualified tax advisor on filing all of this including filing the 990T return for the IRA.

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.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 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We now include insurance contingencies in offers for more areas, certainly around Tahoe, but also in other urban interface areas.

You have to include the cost of your time and the work, especially on a "scary house" is daunting indeed. 

If not, take this moment to adjust, including in case of divorce, mental/physical health, etc. 

I love this site and have read about 15 books by the various rockstars here including everything David Greene has written.

It should include details like the purchase price, property description, and terms of sale.

I know of several excellent property managers in the North Alabama area that would service the Harvest area, including several that I've never worked with personally, but have a good rep in the area. 

In addition to the different tracks @Chris Seveney descrubed, there is also good information on creative financing and seller financing (including what to avoid).

This includes detailing the front yard (with no weeds at all!)