This will be essential for managing remotely.Property Management: If you are unable to handle the property in person, think about working with a reputable property management firm.Decision: The decision you make is based on your degree of comfort, your ability to take on risk, and your readiness to put in the time necessary to develop a network.

I say you should weigh those options for yourself based on research.

The life estate will spell out the obligations of the step-father (taxes, utilities, insurance, upkeep - or even a base rent that you could use to cover those costs).

“To keep up with annual demand, the US needs 1.86M new homes (for-sale and for-rent) per year through 2033, based on underlying demographics and current undersupply.

Set a goal, work backwards, and create a realistic strategy based on your personal abilities.An aggressive investment strategy can get you free from your 9-5 in about 3-5 years.

That being said never base your offer on the other guy.

We pulled all the carpet, etc  but the smell was still super strong - it was into the walls, the ventilation system, and attic! 

You say your not "mad" at us but using strong language like "preying" on new investors is inaccurate. 

Im based in the UK - hope that is OK.I am primarily looking for info on deal calculation and also what I need to have inplace / ways / strategies to raise investment capital. 

@Marcus Auerbach, there are plenty of lenders who use a DSCR 1 ratio and base the rents on actual rents or the rents on the appraiser market rent survey.