If you hate the process of placing tenants, it may be worth it to hire a property manager to handle tenant placement for you.I think finding a new tenant is a better long term strategy if you're confident you can find a higher quality tenant that will cause you fewer headaches.

There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc. 

My question is why you want to bring it up to code, other than just to feel good or improve your exit strategy?

The seller would use this strategy when they don't have a lot of equity in the house.

What strategy are you most interested in—flipping, BRRRR, wholesaling, or perhaps Airbnb?

If you are considering buying using Subject To - Subto, it's important to know what your exit strategy is.Talk to a mortgage broker (not a bank) and ask if that is a property you will be able to get financing on in the event you have to refinance quickly, because the Due On Sale clause was called.AndTalk to a real estate agent about how much you would have to bring to closing in the event you had to sell quickly.

House-hacking in a multi-family unit is one strategy I wish I had been aware of when I chose to purchase my first property.

I got into RE investing utilizing the same strategy as you're exploring.

Then plan and design how you're going to deploy that cash via what strategy your wife and you have confidence in.I use a excel or google doc and my first sheet would layout all of the details of the sale including all costs that go into getting closed.

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.