.- Approximately zero point zero zero percent of REI know what numbers are on their Schedule E, so 'verbal prequals' aren't really a thing for folks with rental properties or otherwise self employed, that are buying rental properties.

I am open to self managing this home to start out with.

You probably should get an attorney to assist you with the loan modification paperwork and any state laws.

But finding people who get housing assistance seems like it can really pay well and consistently. 

one thing I wish to do regardless of help or assistance is to start an LLC in hopes that other people, experianced or not, will be willing to become a part of it in order to build themselves and their goals and dreams with it. i have finally cleared up some financial issues and have money to work my first property, but am kinda clueless and hope for some local mentoring. 

I also am looking into that now to move 401 k to self directed for more tax deed investing.

@Daniel Klucas, I may know someone that can assist you with entity formation and tax strategies.

My clients don't want uncertainty they want good clean deals with fresh title insurance etc.. so just like those that buy turn key homes .. if they went out and sourced the house themselves took care of the rehab themselves self managed it their return would be higher.. same thing goes with those that want to source notes and or NPN on their own..

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.The site has quite a few tools that can be helpful for new members.

Repairs/CapEx/Vacancy projections might be a little low.You should budget for property management, even if you're planning to self-manage.