We also wouldn't recommend trying to DIY manage.Most S8 tenants will be Class C and Class C properties are extremely difficult to manage remotely!

.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

Getting a 2nd is extremely difficult and for those who buy seconds or are considering them here is an example of "what the guru does not teach you"In Georgia, a non-judicial state, a foreclosure is not done through the courts.

Self-managing from a distance is extremely difficult.  

Hey Michael, My understanding is in a preferred equity syndication, utilizing qualified funds such as those from an IRA or 401(k) can trigger Unrelated Business Income Tax (UBIT) when the investment generates Unrelated Debt-Financed Income (UDFI).

If you receive any boot (like cash or non-like-kind property), then some of that recapture could be triggered and taxed.

If both the mortgage and title are in your and your wife's names, setting up a multi-member LLC with both of you as members might help avoid triggering a property tax reassessment (some counties do that) since it shows continuity in ownership.

If you have any questions, you can DM me, and i'll try and answer as I am able, in my limited way.It was a phenomenal answer and extremely helpful!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

It is insane and they make the process extremely difficult.As @Paul Merriwether stated; Oakland acknowledges rent increases above CPI is possible under the section of 'fair return' here: https://www.oaklandca.gov/resources/learn-more-about-allowab...