It's incredible that propositions like this exist.

As we're getting started long distance, we're approaching OOS or long distance properties from more of a turnkey perspective to get started as that might allow us to get experience with minimizing headache from rehabbing from a distance, plus that could potentially allow us to use the turnkey network (property management + their access to recommended contractors, etc.)

As a first property and to get the feel I would think a SFH is a conservative and normal approach, it doesn't have the potential cash flow of a MFH but also with that potential comes more risk, more costs and multiple tenants to juggle. 

The wife is ready to sell me the home but she will not approach the husband that lives in a different city about signing the deed.

Also like the idea of starting to prepare the tenants for the new management approach and expectations I'll bring compared to the previous owners.

Hi everyone,I am new here and first I want to say that this whole site has been incredibly helpful for me getting started.

Do you need to have a property under contract to approach a hard money lender?

A lot of this has to do with building values, etc, but depreciation is still an incredible tax shelter. 

I know there are many options and creative approaches one can take so I'm tossing this out in the hopes that the light bulb goes off. 

When my items approach 15-20 years old I'm looking to replace.