If you can get the small multi-family, I'd consider starting out with a conventional mortgage at 5% (when I bought my place, that was the minimum for a conventional non-FHA loan, which gave me a much better interest rate than an FHA - since I had the capital, that was a better option for me).

IRA - SELF DIRECTED□Do you have a self directed IRA that you can utilize for non-traditional IRA investments, including appropriate real estate investments?

You can find much of this info through public records.

Most of these tenants would have never passed our screening process and we intended to proceed with non-renewals as leases expired.

Evictions based on non-compliance are difficult (not impossible). 

Rachel Imhof Wow, so thorough and so great post, I could not agree more with #4, we have government contracts and when you say “we remodel government buildings” the usual reaction will say “oh that’s good money right there”, it is not, we spend efforts and spending a ton of time and money before and after a contract, chasing them and failed bids, then government tells you how much to pay workers, then there’s always that oops factor.

I would just like to point you to the “authority” source against which you may want to verify responses you receive even from certified experts:https://www.irs.gov/publications/p547I wish it were an easy read.

In your case your best option is probably non conventional mortgage, aka private lender or some other source Good luck !

If they do this, they can typically also get a deficiency judgement against you.There is also a non-judicial foreclosure.

When we first started, we toyed with doing C-tier rentals but quickly abandoned it because the reality is so much different from what looks like amazing 'government guaranteed' cash flow on paper.