The sale proceeds likely won't fully cover my loan.I have a few questions: What documents will I need to complete the buyout of the first lender?

Some investors think that just because they are section 8 they don’t care where they live, they just want a roof over their head.  

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Talk to your insurance agent and be sure you're covered.

Based on speaking with them their, I paid a rather hefty fee to transfer my solo 401K to them and have it reinstated and the fee covered this plan for 6 years. 

Are the renters or the landlord expected to cover rent during the evacuation?

Find a great real estate attorney to help you with:1) Putting a lien on the property, with your aunt's consent, to cover any work you do.- Ask the attorney if your aunt & dad need to authorize lien, or just aunt.2) Understanding your options to force payoff of the lien.- Ask attorney how you can enforce collecting on the lien when you need to.3) Getting full control of the property, while allowing your aunt to keep her ownership.- Have attorney draw up a contract to do this.Suggest you offer your dad some cash, now or in the near future, to motivate him to transfer his ownership to you.It may not work out, but you will learn a lot either way!

I FIXED THE ROOF AND CHANGED SOME DOORS THE PROPERTY WAS BROUGHT IN GOOD SHAPE !