Utilizing the preREO strategy, a receiver (i.e. a local real estate agent or property manager who you may already have a relationship with) could be appointed to make repairs and rent out the home during the foreclosure process.

It's a 4 family, I just don't want that kind of transactional relationship with any tenants.

Working with a qualified intermediary (QI) ensures compliance with IRS rules.This post does not create a CPA-Client relationship.

Here’s how you could start:Start with the Relationship: Since the nursing home is affiliated with your church, you may have an existing connection.

*This post does not create a CPA-client relationship.

She goes on to say that for her beginner investors, she doesn't let them buy over $100k total (including purchase and rehab), she already has a tenant pending for a particular property she currently wants to sell, already has a good relationships with a lender, and doesn't let rehab go over 2.5 weeks. 

I know investing with family can possibly hurt relationships if things don't go well, so I don't want to make any big mistakes since this is a large amount of my parents inheritance. 

That should rarely be the priority in the agent-client relationship and what makes a "good" deal is a relative term. 

This can be costly for your property manager, and you may have to pay for their insurance policy, which can add unnecessary expenses to your budget.It strengthens your relationship with your property manager.Adding your property manager as an additional insured is a gesture of good faith that shows you are committed to protecting their interests.

But one of the most valuable lessons I’ve learned in my journey is that relationships are often the most critical part of success.