You don't want your guest putting utilities in their own names because this is one of the items that is part of the litmus test in certain jurisdictions for establishing residency and therefore conveying long term tenant rights.

I am planning of making it a medium or long term rental.

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

@Jeff Miller if you come down South I would be happy to meet up with you.I haven't been as active as some other investors in going to investor meet-ups but I find that they can be a double edge sword as you have seen with Rich Dad Poor Dad.Real Estate is about the long game and so is life.You want to decide where you are going and make investment and life decisions to get you there.

Don't HELOC for a long term hold.

I can almost guarantee you that nobody will have the time to help you today with everyone working to get their client's extensions in (or relax a little after a long tax season comes to a close for many).

I think you have solid criteria to find a good property with good long term appreciation prospects and cashflow. 

I've done a fair share of researching but some things I havent been able to get very clear answers on.I'm looking into possibly buying a laundromat on seller finance and I want to be able to talk to the seller and negotiate terms that benifit both of us that I can still profit with the business.I guess im looking for a clear cut of all the parts of a seller finance deal, how to structure it, and how to negotiate it if countered. example, If i put 10% down, they finance 90%, whats a good or bad interest rate if any, how long of a term, what should the payments look like etcany advice would be a huge help to not only the laundromat but Real estate in general!

Andre - For starters I would recommend you read "Short Term Rental, Long Term Wealth" by Avery Carl;   You can find that book right here on BiggerPockets. 

I've recently gotten really interested in real estate after looking at possible ways to generate long term wealth.