I admit, I have done a few deals without coverage, but I also knew the properties very well, knew the factors associated with the title, knew they were clean without any construction or other matters that could be the basis for any claims, and, I was willing to accept the risk (self insure) my period of ownership.

So after being pre-approved i find my self here.

you will need to post all the numbers to get a good feel for the answer to that question purchase price rents taxes and insurancemaintenancevacancyproperty manage or self manage how are you going to pay cash or a loan repair costs good luck @Ess Dee

I do not know the laws in your state, however in my state (CA) you'd have to go by Brother's date of death property value and determine if a summary probate is sufficient or if a full, probate estate was necessary.Your friend will need death certificates for all as well as recorded deeds and take to a qyalified real estate attorney.

.$650 rent - $400 mortgage payment = $250 for cash flow...and taxes, insurance, (are you self managing or is there to be a PM?).  

You will gain a lot of experience managing your self, however, if your situation changes and you need to place the property under management you want to make sure that it will still cash flow.  

Personally, I'm a Self-Storage Guy, so I'd perform a basic feasibility study to see if Self Storage Would work in this market, and if not, then pursue a conversion to the larger units.  

Your TDOS should be sufficient.

Step #1 - determine if there's sufficient equity to pursue the opportunity!

Don't really need to so long as you have proper bookkeeping.Assume they don't put their name on the deposit slip:1) If the tenants paid by check, a lot of banks shows a softcopy on the online system, so you figure out who paid based on the check image.2) If both pay cash AND they are the same amount, the easiest way is to ask the tenant to send a copy of the receipt (using smartphone) to your property manager, who will then forward to you, so you will know.To be honest, once they know that you ask them every single month, they will self-adjust one way or the other.