Is insurance involved? 

Success in this area requires a keen eye for undervalued properties and a solid understanding of renovation costs and ARV (After Repair Value).Tax Liens: With limited capital, investing in tax liens can be a way to start small.

From what I understand Joint tenancy has right of survivorship.

Obviously, this can impact your overall cash flow. 6) it’s important to find an agent that knows the area well and understands how to work with an investor, as the process is very different than buying a primary residence. these are all things to consider, and there is going to be a learning curve associated with the process.

John Roberts also is one of the organizers for Red Stick REIA meetups in BR and is heavily involved in REI. 

I understand.

The in-laws want simplicity since they have no interest in managing the unit.From what I understand, it seems logical for them to handle the required taxes (TAT & GET) and compensate me via a 1099 form.

Understand the market and do your own research. 

I am having issue finding a CPA who is well versed in all the nuances involved in this.

They like this because they know buyer broker is helping the buyer understand the process, find a commercial retail attorney, help line up financing with capital markets, etc.