So the monthly rent payments received will not cover mortgage payments, insurance, property taxes, repairs, maintenance, etc, and to avoid default the owner will be required to “come out of pocket” for the negative difference. 

In other words, would be required to do the 5/7 split?  

I was wondering if anyone here had any good ideas for a job that doesn't require a degree and isn't extreme manual labor?

IN ADDITION once you do have the complaints in writing, section 'Disputes' in your agreement REQUIRES you to attempt to find a solution with the problem Tenant before escalating.

If you're looking to learn more about the strategy and renovation process, you may want to take the approach of buying a primary residence that requires some repairs and doing as many of those repairs yourself while you continue to work your W-2.

In California I'm required to store their stuff for a certain period of time.

I would recommend a bit more competitive pricing and really giving those first few guests an amazing experience (extra goodie bags, hand written notes etc)As a local cohost, I actually require all my owner's to create their own account and add me as a cohost.

@Wesley Jensen while he’s checking his legal rights, give proper notice required for entry for the evaluation, make sure you’re there to allow entry, and have it done.

@Michael Hayes you should discuss this with the S8 office handling the inspection.Most HAP contracts require a landlord to supply the fridge & stove, NOT the tenant.Violations of the HAP contract may lead to rent abatements and even banning of the landlord from S8 program (usually only with that specific Housing Agency).

I'm currently 60k under list (-13.9%) = 187k per unit Should I just shut up and buy the thing with the amount of cash required to close?