First step would be to get a PACER account and review the Lady's BK schedules to see if she has the property listed as an asset or liability.

Those two together create equity.Here's what I want you to understand about “buy and hold” residential real estate:Let’s use a single family home with a property value of $300,000Let’s use an initial loan amount of $240,000Let’s use an interest rate of 7.25%And I’m going to give you $150 of cash flow per monthUse a 5% appreciation amount for your property per yearLet’s see what happens after 5 years:After 5 years…$150 of cash flow per month = $9,000Your mortgage has been paid down to $227,000 = $13,000Your property is now worth $382,000 = $82,000So that’s $9,000 of cash flow, $13,000 of principle buy down, and $82,000 of appreciation.

I would also encourage you to source leads through a software like TurboTenant which will streamline the process, in conjunction with the handouts found in Brandon's book, and likely provide a better applicant pool as your listing is automatically published to multiple rental listing sites.

Your home goes vacant but there are 50 others on the waiting list. 

So its not just the HOA but also the local govt that would take action.BTW, Recently VRBO stopped me from listing a property for STR saying its NOT zoned for less than 30 day rentals!

I have a good friend who is getting ready to list his house.

Would love to buy this piece of land they have listed, but need to know if it is legit or not?

Tenant claims they don't know, initially a pro cleaned the carpet which actually spread the urine smell everywhere. 

I own a mix of long- and short-term rentals, but I initially started out with long-term.

Inventory seems to be moving pretty quickly once listed or are at least “pending” within a few days.