So the lease will be higher than the advertised rent, they will be responsible for minor repairs, they are responsible for obtaining the proper licenses and pay all the taxes for their business operation (If you don't do this, you will regret it one day you see a tax bill that you as the property owner who are responsible for), and they required to have a STR insurance policy. 

Trying to find a reputable website to find properties that have tax liens on them?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

You'll need to figure out your DTI by comparing your gross monthly income to your monthly debts.

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

I keep getting asked, so I figured I would post this up so I could simply refer people to this post.The rough guidelines/strategy that is working for me so far is below.Assumptions - You are leveraging debt.

BTW leases are in some cases actually considered real estate and the lease itself is taxes as real estate.

OrSecond: buy a single-family fixer upper (400-500k) home, live in it for 2 years and either sell it to avoid capital gains tax or rent it out. 

Regarding cash vs financing, a cash offer might be more enticing to the investor selling the property since it won't be dependent on an appraisal, but leveraging debt is where the real wealth will be built long term.

Someone still has to cover taxes, insurance, and upkeep during the foreclosure.