Hi Anthony-You asked about the best ways to find off-market deals for your in-laws to buy and move into and you are focussed on the Santa Barbara, CA area which I have been to and it is gorgeous.It kind of reminds me of an Ann Arbor on the ocean. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

Search the BP for ADU appraisals to encounter numerous examples.

The hard work paid off when we sold it on 9/13/2024 for $155,000.

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

Everyone wants to get into real estate. Few do it right. And even far less succeed with a multifamily real estate portfolio. So, what’s the trick?
I didn’t just wake up and start bagging deals and becoming an all-ar...

Search the BP for ADU appraisals to encounter numerous examples.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

Would like to be more hands off as well.

My question is that due to numerous unfortunate circumstances, two properties that my partner and I purchased (through a program) were underscoped, and we cannot move forward financially.

A quick internet search led to quite a few complaints by people claiming to be ripped off, had deals fall through, or simply getting the run around each time.