There are a ton of free resources across all Biggerpockets & online I highly recommend utilizing.Also there are a ton of real estate related events here in OKC I'd recommend!

Quote from @Jason Zundel: @Alexander Rodriguez - There have been lots of credit comments, suggestions, and advice on this thread, but as many of them have been or are related to security deposits, I wanted to put this reminder:  In CT, landlords can't require more than two months rent as a security deposit.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I have done some research, $60k principal, the owner has passed and the deed is now in their relative's name no other liens on the property based on what I can find from the deed recorder's office.

These areas are all "relative" to another market/sub markets...

It doesn't require formal registration beyond a partnership agreement and tax filings, which makes it relatively inexpensive and quick to set up.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I am looking to buy my first REI property using a relative as a private investor for the total purchase price.

Unless some of the occupance are related. 

From what I’ve seen in other posts and market research, Columbus seems to have solid rental demand and relatively affordable entry prices, especially compared to many other metro areas.Here’s my current situation:I own one property here in Oxford that was our primary residence for 2 of the past 5 years.It’s currently on the market for sale, and we’re estimating around $160K–$180K in equity.Since it was our primary for 2+ years, we’re hoping to avoid capital gains tax using the IRS exemption.If it doesn’t sell, we’re looking into options to pull out some of that equity (HELOC, cash-out refi, etc.) to reinvest and grow our rental portfolio.