I would be cautious though with jumping into a distressed property to use the BRRRR strategy from a distance as your entry into RE investing.. this is really for advanced users & without a very thorough knowledge of neighborhoods, rehab costs, & a team you know you can trust you stand a very high chance of coming out in the red. 

Do yourself a favor, put all this on paper and put your date on when all this will happen in big bold print and post it right at your front door for the rest of 2020.

Increased shared housing is also potentially problematic to the extent it results in increased in-person interactions between older, higher-risk individuals and their younger relatives or friends.My Administration has taken bold steps to help renters and homeowners have safe and secure places to call home during the COVID-19 crisis.

Unfortunately, 40% occupancy is not enough to get out of the red as the breakeven point requires significantly better occupancy.

@Adam L. this has so many red flags going up.  

If you find high vacancy, that is another red flag for the market and you should be cautious.

It is a big red flag to me that someone makes above that minimum criteria and is already asking up front for you to accommodate a paycheck to paycheck lifestyle that's incongruent with the whole point of meeting that very criteria point.When verifying income, did you check paystubs, or did you just take what the applicant reported?

This could raise red flags with the underwriter. 

Also are their any other red flags to  watch out for in neighborhood locations/crime etc.  

We just want tenants to know the "red flags" that pop up and how to avoid those scammers.