Am I doing risky gamble here? 

Pretty good gambling opportunity for a smaller outfit.

The OP says he doesn't have the cash to finance a deal and would need to use a hard money lender to start BRRRRing.I know for a lot of traditional financing, there are a lot of very strict guidelines on properties being livable and won't provide financing if it needs a lot of rehabbing.

Hey Robert - so I have been renting about a dozen units to tenants with section 8 vouchers here in NY for roughly ten years.Section 8 is a federal program so I'm assuming the guidelines are national but obviously you have to check.#1 Yes. 

I’d love to get the basic guideline of a good Project Manager and the checklist they go through from after the property is purchased and before it’s resold.

Treat the two items separately-non-payment of rent and a repair.Read the CDC guidelines to see if they actually apply to your tenant. 

@Sunkul Soni 70%LTV is standard guidelines for cash out in conventional loan.

I know alot of investors who got loans pre-covid and wouldn't be able to refi now due to guideline changes.

@Simon Obas Honestly, I would stick to the guidelines that are set out.

That's the guideline from Fannie Mae and Freddie Mac and they can't stray from it.