@Tyler AmnottIf you have a vacant unit and you are considering Section 8, hen with proper screening it can be good for you. 

The rest of Hampton Roads is still pretty easy for you to get to when needed so you don't need to limit yourself to just Williamsburg.

I'm sure by now you have heard of "analysis paralysis", which is easy to get caught up in, believe me!

Though the units may have had proper heating, the pipes leading up to the units may be exposed to the cold.One particular property we had was vacant which made it all the more miserable since no one was in the property to heat it.

This does usually result in us using more paperwork/notices than necessary with our tenants, but covers our risk for the most part...generally, the  notices have the actual statutes printed on them and if you read through them thoroughly, states the proper routes to take in different situations and when to use a particular notice. 

Though it may seems easy to pledge your note as collateral, it is considered a security and requires an expert in this field who will understand this type of loan and an attorney.

In my area they can rent out at 1,000-1,200 all day long, and since there's so much demand, I can screen tenants properly without having to compromise just to avoid vacancy.

Sure, that's good enough"Stranger still is that the floors were completely level - which suggests that they may not have been properly tied into the walls.Thanks for the thoughts though.

Read this threads on partnering: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investorhow-do-i-properly-construct-a-purchase-with-a-partnershiphttps://www.biggerpockets.com/forums/51/topics/591...Taking-on-partner-s-and-limiting-our-liabilitesQuestions-for-capital-partners/Real-estate-partnership-questions/And here is a diagram to help guide you on this quest - talk with @Scott Smith to get implementation details:

@Kevin Buck As others have said we would need more info in order to properly assist you, but, your friend should look into the rules of the HOA first to see if the property can be rented (if he hasn't already).