What I would probably do is put the money in a safe secure predictable investment like a CD.

Look for signs of water damage, like stains or discoloration on walls.Roof problems are also common.

We did it once about 8 yrs ago (although it was structured more like a lease-purchase).

Wow 2.25% for 15 years.Can't believe this was even offered in the first place.Actually free money...If you're breaking even, I likely would just keep holding it.

I personally do both -- I like to have a dual exit strategy on my properties. 

Right now (Q3 2024) everything seems overbanked/overbought.Currently, my focus has been purposely broad but currently split between: A) SF business (wholesaling/rehab) I was asked to take over (on almost no notice – am still badly catching up) and B) Small balance MF and mobile/manufactured housing (<~50-100 units for physical/operational value add)I have made some progress on each but not where I would like to be although I have just recently gotten involved in the sub-institutional space again.

@Jerad GrahamHouse hacking properties should have features like a quadplex with 3-4 bedrooms, flexible layouts, private entrances, and amenities.

I would like to find a good reputable contractor that gets in, and does the job [until complete]. 

Is it smart to buy properties that are already move in ready and rent out immediately in an area like this as opposed to buying rehab properties? 

I was going to draft up one contract with each LLC as a separate "Owner" with the authorized representative for all, the actual owner, to sign the one contract for all legal entities, but they didn't like this and want to keep all documents separate.I gave them a VERY competitive price quote based on the total portfolio as 1 account with the total number of units.