As far as financing, if you have real CF then it shouldn't be an issue.

I know this is also a National issue, especially in land constricted markets.

To communicate that a candidate doesn’t meet your qualifications without violating fair housing rules, you can simply focus on the criteria rather than the individual.

Quote from @Leah Miller: @Justin LandesmanInsurance has been bound for weeks already so that shouldn't be an issue. 

The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

It’s not just for large portfolios, an LLC can protect you if any issues arise with tenants or the property itself.

Once you’ve got a little experience under your belt then you can attempt buildings that need more renovations/repairs or have had management issues.

They were abandoned and needed significant work which wasn't a huge issue but in terms of HUD owned properties i heard there can be significant processing periods.

If you have an issue with that, or are long distance, hiring a property manager is a must.

I could probably rent the house as-is but I would hate for it to be an issue if there was ever a fire or something drastic.