Just need somewhere where I can vet and trust the PM.

In contrast, if you buy a rental-ready property with a 30% down payment, you miss the opportunity to create equity.

if you’re looking for an investment angle, you might consider moving into a multifamily house, such as a duplex, where the other tenant would probably pay for your mortgage with their rental payment each month.  

Just another option to consider because purchasing investment properties right now can be challenging given the rates and down-payment requirements for investment properties. 

Remote management is definitely doable, and as you hinted at it's very important to have trusted local vendors.

If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.

This would be my first subject-to deal so I was curious if there was anyone who could provide some tips or support me in the details (paperwork, insurance considerations, using a land trust or not, structuring the terms advantageously, things to look out for)?

I have a clause that authorizes me to contact that person in case of "death, incapacitation, or incarceration" and work with that individual to coordinate removal of belongings, payment of rent, or even a refund of deposit.When someone dies alone, there is always a police investigation to ensure no foul play.

If you're just looking to lower your payment, then take the total costs its going to take to refinance (at the very least 5k) and then divide that by the monthly cash flow improvement you'll have by getting lower rates.

Angie,The best way to start is to buy a primary so you can take advantage of the lower down payment.