Over the past decade, I’ve built and managed purpose-driven homes in CA that serve communities while generating stable, long-term cash flow.In addition to running care homes, I also consult with aspiring care home owners across multiple states, including Texas, Arizona, and Michigan (Detroit area).

However, there are still plenty of tax benefits when it comes the income you generate from your multi-family property that you can deduct from. 

That is why I say I don't think it is a good plan (for my lead generation standards) BUT you will more than likely get lucky and snag one deal... or 2

It is unfortunately a very risky thing to invest with individuals.

Explore Potential Funding OptionsPrivate Money Lenders (PMLs): Reach out to private individuals looking to invest in real estate.

3) How flexible is the contractor about meeting at the property for their inspection to generate a bid? 

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

I was interested in something like owning a rental property as a way to generate some additional income. 

IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.  

After reading so many intros of young, single, eager individuals, I'm hoping I'm not too late to the game!