As Min Zhang suggested, making sure you have a reliable property management company is key and can ensure you aren't dedicating any extra time to taking care of this asset when you already have a job with demanding hours.

What made you interested in investing in this type of deal?

To "soften" or reach a compromised we agreed to ONLY have $30K of the $60K in funds be considered "OPTION CONSIDERATION" funds (giving us the EXCLUSIVE RIGHT to buy the property at the $300K Purchase price) and the OTHER $30K of funds would be STILL be given to them but we informed them that it likely will be consider TAXABLE INCOME to them.

This is typically part of the screening process to ensure that the property meets occupancy standards and to prevent overcrowding.

My most recent research has been on selection 8 housing and where I have been focusing my interest in learning about as of lately, is this something that you would recommend, If so why or why not?

@Jared Rine are you able to provide more information insight on this loan?

But I don’t know where to start researching if this is a good idea and how to go about it.

This seems to be a result of some smart accounting moves on my part, thanks to an investor-savvy accountant.

It can take a while for action to start .I read on the  topic for 2-3 years before I made a move into S.F.H rentals .

Thx Read my comment again.