Your family can move into one of the units once one becomes available - or if they prefer an apartment Good luck!

I prefer if you are going to significantly raise rents that the tenants are getting something in return.  

Ask title company for a list of high-equity, absentee-owner properties, preferably older homes.Contact pre-foreclosure homeowners either from Zillow or other sourcesTry to find homeowners with 2+ years of delinquent taxes before it goes to auction.   

If you have a preferred insurer, USAA, for example, you may want to check with them before making an offer. 

I'm considering building a platform to let others reach these customers but wanted to take the pulse of this forum first.  

He preferred cash and a handshake.

Coming in with the capital you hold majority leverage, but having them find the needed workers (preferably contractors he currently works with) is going to be extremely time consuming. 

I much prefer being able to sit and listen to experienced investors talk and things I have read start to make sense when I hear how folks such as yourself have utilized these things.

Phillip,Have you thought about structuring the deal as a partnership where your investors will receive a preferred return along with a share of the equity?

Which do you prefer and which is simpler?