That minimizes your risk exposure.  

What would be the best way to structure that to minimize taxes, bank costs, etc.?

Minimum investment is $250 but you can invest as much as you want, up to 10%*rather than investing a high amounts of cash into few properties, you can maximize returns and minimize risks by spreading your investment capital out over many properties*No stress of managing properties as RESGOA takes care of the property management*Since we rarely have more than 50% of the value of a home financed, the tenant pays all of the mortgage interest each month which means if you increase you investment into a property, 100% of your investment applies to equity.

Older, like mine... late 1940's and even earlier... but well built and in easy walking distance of the high school, middle school and elementary two schools, one being Catholic.The attachment aside, doing a rental now would (potentially) let me 1) create a positive cash situation with minimal investment 2) keep the occupied and house off the market at a time there is way too much competition 3) perhaps allow the market to come up a bit before getting it ready to sell.

Minimal sanding, texture done right the first time.Drywall is a job I don't mind writing a check for.

If nothing else, what will REALLY happen, is you will be misused and/or lied to, and be used to fund GAP payments of hard money lenders, where your money will be a points payment on a GAP payment to make the loan overall come as close to 100% financed as possible with minimal skin in the game.Pretty much, the fall guy on your average house flipper, who has grandoise dreams of millions of dollars of profit, but wants little to no risk to themselves, and wants to do everything with someone elses money.

I would definitely keep your marketing budget minimal, as most of your response will come on the 6th-8th mailings. 

If the area is attractive and you anticipate that you will be able to fill the vacancies with good tenants at good rates and with minimal TI expenditure, it's worth figuring out a way to make the deal work.If they are in a declining competitive position with aging buildings and no underlying land value, you are being offered what Warren Buffett calls a cigar butt.

I'm actually interesting in buying performing notes and enjoying the cash flow to minimize risk.

Very minimal repairs.