They require 48-72 hours notice to schedule anything onsite so we've been waiting 2 weeks now for a Section 8 initial inspection date to be scheduled by them.

@David RobertSevere nicotine damage can require extensive cleaning, sealing, and even replacing drywall or HVAC ductwork.

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

DSCR loans underwrite to the income of the property, and do not require your personal income, taxes, debt-to-income ratio, etc.Of the 1,100+ loans that our team closed last year, I want to say that only 1% to 2% of those were closed in a borrower's personal name.So, it is pretty irregular for us to process an investment property loan under a personal name.Clients usually opt for closing in their personal name if they simply do not have an LLC established yet. 

Zoning and Permits: Make sure to check the zoning laws and permit requirements for building an ADU in the area. 4.

That would probably require a professional. 

Below is the link of the property:https://www.loopnet.com/Listing/927-Dixon-St-Tiptonville-TN/...No idea why it would be listed in the title unless the owners took some kind of government incentive that requires them to only lease to section 8 tenants.

This requires a dedicated effort sourcing and analyzing hundreds of deals to find the one or two worth pursuing.  

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

Most hard money lenders require 10-20% down payment of the purchase price or total project cost.Holding Costs During Rehab: Yes, you'll need to cover carrying costs, including hard money interest, utilities, taxes, and insurance.