I suggest you read Short Term Rental, Long Term Wealth, published by Bigger Pockets and then join the Facebook group by the same name.  

For example, some of the property might even be eligible for bonus depreciation, but whether or not you use it depends on your short- and long-term strategy and individual needs.

The problem is you don't know if someone just made a large deposit to make them look good and then the money is gone after they move in.

My goal is to acquire multiple properties in a given market over the next few years and remain active in that market as long as the market still makes sense...

When I decided to find a new real estate accounting software platform in the fall and finally untangle myself from the nightmare of Quickbooks, I had no idea it would take me this long or be this complicated.

-Should I find an appraiser that is also familiar with FHA loans or just a good appraiser is fine?

Good luck,

How did you identify that this property would be a good investment?

The long and short of it, you'll more than likely need an architect to draw plans to do the conversion.

I'm sure a much nicer/updated gate with a programable codes that all four neighbors like would go a long way.