Yes, when forced to resort to such arrangements, it's not ideal long term.

To do that, you will likely not be able to assign them because they are REO I deals and likely prohibited via the purchase contract verbiage, so you must lock them up in the name of a new entity or a trust and then sell the entity or the beneficial interest in the trust.

It looks good to me, but nothing gets by the Deal Analysis Forum.Here are the details:Asking Price: $230,000 (I ran my numbers on $220,000)Units: (4) 2 bed / 1 bath, rent for $700 eachBuilt 1966Tenants pay utilitiesIncome: $700 x 4 = $2800 / month or $33,600 / year Expenses (per month): Insurance: $66Taxes: $346Vacancy: $280 (10%) Management: $280 (10%) Misc repairs/Long term capital expenses: $428^ I just took 50% gross rents and subtracted all other expensesNOI: $1400/month = $16,800/yearFinancing:$220,000, 20% down = $44,000Loan of $176,000 at 5% interest = $944 monthly payment Cash flow of $1400 – 944 = $456 or $114 / doorOR (if I Owner Occupy)FHA 3.5% down = $11,000Loan of $209,000 at 3.5% = $1,012 monthly payment NOI of $700 (since I will be occupying one unit) means cash flow of -$459 (assumed $147 of PMI added)This property is in an ideal location - great neighborhood, proximity to schools, park, and community rec center.

However, for some landlords and some tenants, this set up could be ideal, barring any unforeseen problems on either end.

Ideally I want to find a seasoned vet that needs a hand with some of their legwork in exchange for some advice!

@Cecilia Cobar  Let me know where you guys are looking for properties, and what's your ideal property.  

Although you may be able to buy a distressed home today for less than it's replacement value, it is always ideal to insure for replacement cost.

Ideally it would be best to start with an investor-friendly Real Estate agent. 

Ideally I am looking to connect with a property manager type who can assist me with this minor task, though the person does not need to be a PM.

@Chris Purvis -  Every broker I deal with (I represent buyers in a brokerage) require a pre-qualification letter to be submitted with all offers, and some require a proof of funds as well.