You could also house hack and do MTR by buying a duplex and live in one of the units and MTR the other unit. 

I understand that reading is valuable, which is why I'm curious to know which book you would recommend for a beginner like me to start with.I have yet to buy my first property but my goal is to house hack every year,  while buying and renting properties to hold long-term until my portfolio brings more cashflow than my W-2 job.

Beats buying carpet all the time!

They plan on buying this spring or summer.

The facility is underperforming and it should be a good opportunity to buy it while the price is "low" (asking $40 million, with a solar farm that is currently being installed) before the "Silver Tsunami" hits over the next few years.  

@Cody JournellI guarantee you in the net five years, you'll look back and see this post as you are buying 50 units plus.

When I buy properties with way under market tenants, I have a "bad news bear" letter that I send out which introduces us, explains the current situation and tells tenants what the current market rates are, and for tenants not under leases, when and how much the rent will increase.

Investment Info:Single-family residence buy & hold investment in Houston.

I would like to get some insights from those of you who've been through buying a tenanted property.

(options to buy down into the 6s but I don't see many people opting to do that).