Do this before you decide what must be included in a Rehab budget and what can be deferred as part of your CapEx reserves requirement.  

You decide he's better and rent to him.

As we grow further, we may decide that some are much easier than others (for example, when we turn our personal home into a rental, we will likely at least start it out with self-managinig).

We decided to get aggressive on the property, but this morning we found out it is owned by HUD.  

Give yourself about a year to study finances and real estate investing, decide the specialty field you are interested in, line up your team of agents, lawyer, broker etc., and make sure you have plenty of cash savings.

He started out as a highway patrol officer, but after our second child was born we both decided it was best for him to quit and be the stay at home parent and for me to keep working.

I've always had issues with tenants paying rent late, so i decided to take risk. 

Let's say I buy a multi family property using an FHA, I live in it for a year and then after 1 year has passed I decided I wanted to sell it and leave the country.

I’ve decided to reach out to my CPA from LA who previously did my taxes.

How do the owners decide what to do?