In the full version of Acrobat you just choose "save as" and then select the file type "Excel Workbook". 

For example, you buy the place and the tenant could claim the Seller allowed them to paint the walls black or that their security deposit was twice what the Seller claimed.

Choose wisely, and choose a group that has depth in their team, a track record, has survived market cycles and has experience in the product type and market.  

(Make sure you turn on the Class Feature in the Preference Section of QuickBooks).When you set up your properties as a class, and you invoice your Guests for the rental term, you will choose that vacation rental from the class feature of the Invoice.If you have repairs or expenses for each vacation rental, you will write a check and choose the correct vacation rental from the class column on the check. 

The house has about four areas where the drywall is cut to access pipes and some other areas with peeling paint.

I usually check Craig's list to see if there are any off-mls deals at a bargain.Maybe take it off the market for a month, do some minor work that gives it a more updated look (paint, landscaping etc) and put it back in the market at a competitive price.

Owner occupied loans are at lower rates and higher LTV (but you may choose 80% LTV to avoid mortgage insurance).Learn as much as you can in the process.Good luck

Do you all think this would negatively impact a loan or mortgage rate should we choose to go that route?

No matter what strategy you choose, if you have school or a job, it’s going to take you at least a year, probably longer.

I choose to buy using Subject To, and I am generally into a property for about 3% of the value of the property by taking over the loan.