If the property is in compliance with zoning and is 1-4 family it may be financed as an owner occupied or non-owner single family attached dwelling.

Even if I wasn't ready to pull the trigger on an investment today, I would probably stash that money someplace simple and safe like a CD at 5%.

While a title company might provide a note and mortgage, it will not prepare a complete, bulletproof loan package.Our package comprises over 20 loan documents including a note, deed of trust, personal guarantee, lender’s instructions, business purpose loan certification, entity certification, various federal and state compliance disclosures, and more.

Always review your lease agreement and consult local laws to ensure compliance with all regulations.

with an objective of having your network in place when it's time to pull the trigger on a deal.  

We pulled the trigger on moving to Texas.

They have made compliance so difficult that you should probably only do multifamily.

See more details in the FinCEN Small Entity Compliance Guide. 

Wow, was that a loaded question,  I have done just this to help the owner pull the trigger if the owner is a little bit low on funds for the labor end of the project. 

It can get pretty complex versus long term rentals - I'd highly suggest using tools like AirDNA that has pretty sophisticated data and projections on STRS in every market before pulling the trigger