I also have properties in Florida and while they are doing well, they are also not ideal for the traditional investor.  

Also, we are highly considering moving money into out of state investing markets so if there are people out there that can shine some light on things to look out for in that situation, we would greatly appreciate that as well. 

I've seen a lot of mentions in the forums of people wanting to do this strategy, because especially in todays market it is tough to find deals with a traditional strategy.

Basically you would rollover your IRA (Roth or Traditional), 401k or HSA to them, then it would be invested in real estate or other passive income options (of which there are many).

I have a template for the lease option and I'm supposed to mail it out to the seller because she had agreed to it... can anybody please help shed some light on the subject. 

@Michelle Oblena You're correct as this is an accountant's field of expertise and not mine but from my experience, if a borrower cashes out a Roth or Traditional IRA, the tax penalties that will be eventually incurred the next year will need to be taken into account.

The type of rehab I’m planning to do is very light 1-1.5 months.

In all seriousness Latasha might’ve just helped you see the light.

Other things they look at is emergency lights, loose railings, chipped paint, cracked walkways that may be a trip hazzard, self closing self locking doors, fire retardant paint on wood panel hallways just to name a few.. 

They do this in order to protect the government money and not pay more (voucher program) in one area than what tradition rent price/ salaries have demanded.