Its ironic you dont want Section 8 when that's the type of secure tenant you would want in that neighborhood who would secure rents monthly.

I was in a VRBO webinar earlier this week and they said that 25% of their guests want a waffle iron. 

You sound realistic and this deal sounds good, just verify there are gotchas, leaky cast iron plumbing, cracked foundation, tenants to be evicted.

@Patrick Bavaro - ironic seeing your post.

Be sure to have everything ironed out with your attorney.

Be sure to iron out the operating agreement.

Ironically, now I look to do exactly that, or at least a little better off than I am.Where I live home values have increased drastically over the last 3 years, and since my purchase January of 2021, my home has also seen a value increase of near 20% without having done anything to it. 

We're getting back on our feet but we missed/were late on many payments for the rental, which ironically is the major reason my credit is so bad at the moment.

(and stay employed) However, construction is hard on the body, and I am just an Electrician, not a Rocker or Iron Worker. 

And ironically people are complaining how "expensive" they are....