I have cash too.

My dad is a long time investor and I've picked a few things up from him, but the majority of my knowledge has come from consuming mass amounts of books, podcasts, and reading the forums here on BiggerPockets. 

I'm looking for distressed properties in need of rehab, with a budget of around $250,000 for a loan, along with my own cash to invest in renovations over the next year.

Think about your long term strategy.

Try to pull equity from both of those properties so that you can still cash flow and cover expenses from rents. 

The time depends on lease length and how long they've been living there.I would also recommend reaching out to their caseworker (if they have one) to let them know the lease will not be renewed.Section 8 voucher holders are incentivized to vacate quickly in order to keep their voucher and avoid having to pay full-market rent out of pocket elsewhere.Hope this helps!

I have been considering for a long time investing in multi units.

Text messages and phone calls go a long way here.

Welcome to BP - what types of properties do you invest in, Short Term Rentals at all?

I reviewed this long ago and the amount of work you had to do to save a few bucks did not seem at all worth it.