3bed 2bath home that i estimate can rent for $750.The seller financing terms are 5,000 down and a payment of $550 a month that includes taxes and insurance.

Use FHA financing for the lowest down payment and most forgiving credit guidelines.Best of luck. 

Usual down payment is 5% but there are certain first time homebuyer programs (homeready/homepossible) that only require 3%.

They have been gifted some money for 10% down payment from parents and that has been seasoned for over a month.  

I have no credit card debt or any other debt (ie car  payments, student loans etc).

I am considering buying a place, but lack the down payment. 

@Justin HeitterSounds great except your line saying I want to pay this off as fast as possible.Do your research but you will probably be much better off saving up down payment for future properties than paying off the first one before moving on.

I am currently self-employed, have a down payment to invest and good credit. 

I worry because quite frankly our tenant pool isn't one that adapts super well to change, they aren't that technologically inclined (online / app = payments - lol - some of these folks are depositing cash into our bank accounts on the 5th) and I worry that this change will disrupt, cause move-outs, more fees, etc...Thanks in advance for your insight, heckles and advice.

When they contact me I let them know we can make arrangements for payments.