I also didn't realize how many different skills were required, from financing to managing contractors to permits to city inspections to managing tenants or property managers.

Searching and examining title requires knowledge & experience. 

DSCR generally requires low documentation, no tax returns or W2's, and you can put all of your investment properties in separate LLC's to protect your other assets.Let's connect 

Regarding remote managing, in our 24 years of experience, dealing with hundreds of investors, what we've had to bail DIY Remote Investors out of is mostly Class C properties with some Class B.So, in our opinion, one can remote manage a Class A property fairly easily if you are organized.Class B requires more organization and knowledge, to avoid tenants taking advantage of you.Class C should NOT be done DIY - hire a PMC!

Watch out for fine print that requires an additional fee at closing - this is a huge red flag and how most flat fee companies make money.

I am assuming the lender even at a low LTV would require a first position, but just guessing as this is my first seller finance transaction.

I am hoping to meet the requirements for the STR loophole and offset his income.

I was hoping to find some sort of refi with payment deferments but it looks like the programs require more equity that I have.

The current tenant says they have gotten the problem fixed but all that is required is some tile work and installing the new toilet. 

And just checking, is the EMD requirement for foreclosure auctions 5% of the total reserve price?