If the Housing Authority violates the contract (and they do) the landlord has essentially no recourse.These contracts vary by State. 

They are essentially assigning their interest in a property to another financial institution.Another example to illustrate could be car dealerships, when we "Trade In" our car, we are essentially accepting very low compensation for our property (car) with the knowledge that the car dealership will sell it on the "used" market and most likely realize a profit.  

There are three (3) Private Letter Rulings (PLRs) that essentially allowed the taxpayer to building on property that the taxpayer already acquired/owned. 

This would essentially be the money we are looking to use on a new home.The $10,000 loss/year assumes that the house is not rented out the full year and some maintenance costs, but yes, it is quite high.

So, you essentially want someone who is an accomplished rehabber who can't or doesn't want to put up their own cash.In my experience, if you find someone experienced and can do everything turn-key, you should expect to give up about 50% of the profit.

The "Due on sale" clause just scares me a little too much to gamble on transferring my title to the LLC after I purchase the proper personally.So others have mentioned having their LLC's collect the rent and essentially manage their properties.

This essentially means you can withdraw money from your IRA tax- and penalty-free as long as you put it back into the same or a different IRA within 60 days.

But, since an addendum is essentially an agreement modify the contract (a new contract that modifies the old contract), it would seem like it might be needed.

This is where experience is essential.

Lots of low income people are essentially no income, living on SSDI or SS income, usually pretty close to the edge.