A strong team can streamline processes and reduce headaches.Expand Knowledge: Podcasts and forums like BiggerPockets are great tools.

We have only 2 criteria for the order we process applications: 1) nearest move in to the date unit is available to be rented 2) order that the completed applications are received.If we had a unit for rent that would be rent ready Jan 15 and have multiple applications, the application processed first is the one who can move in the fewest days after Jan 15.  

Evicting them, even after purchase, could be a lengthy and costly legal process.

In that case, would the renting process be a bridge to help you retain the home for future personal use? 

I was hoping I could get some more general information on how this whole process goes and to inform myself on the pros and cons given im a newbie and don’t know much.

That company, hopefully, manages a lot of similar properties to the one you are investing in.2) I can't speak to this GPs vetting process, but it is 100% the GPs responsibility.  

The foreclosure process is not cheap or fast.

- Controlling costs for payroll processing, unemployment charges, workman's comp and liability insurance- Coordinating ServiceTech & tenant schedules for appointments--- There are several industry vendors that focus on just this!

I don't know if I can sell my wife on moving into a fixer up but I assume the idea there is to repeat the process with the new house.

Any guidance you can provide as we navigate this process would be incredibly valuable.Looking forward to connecting further!