@Faris Wright - Welcome to the BP community, there is so much value here it is almost overwhelming.

It's also about your ability to access the Sponsor's financial and managerial documents on the go so you can control and check what is happening regularly.

Some have very little involvement in the actual operations of the properties, so if you are seeking asset management help, I would be sure to ask what the mentor's level of expertise is in that area.Who would I actually be working with?  

I just started applying for lending and have excellent credit with zero debt so it shouldn't be a problem. 

Hi Andrew,Thank you so much for the tips!

leave the old **** houses alone cheap doesn't mean good. if it was so good reits and institutions would be doing it.

That's the only control you have, so do not waste it.

It was very outdated so we are giving it a facelift and will be looking for a way to rent it out.We’ve considered retreats, STR, independent living, section 8, etc. what other options are out there that we aren’t thinking of?

So I guess my question is how did you guys just take the leap and just do it when it comes to this?

The other good news is you ca use the rents of the other units as income to qualify so you can essentially qualify for a higher home price.That sets up your next investment property as you move out its now a 2-4 unit with multiple doors bringing in more income.