We sign a contract between me and Don where he promises to make monthly payments to Chase, instead of me making these payments, The idea is similar to assumption, except that the bank does not know, and if Don does not make his payments as promised, I'm in trouble with Chase.

Check your local real estate association meetings as a resource.I also like the idea of house hacking mentioned by @Travis Timmons and @Nicholas L.  

Hey there @Lamier Guzman you have a good idea as a foundation.1.

@Mary Peale - Hi Mary, I have a couple ideas that come to mind.

Is this a good or bad idea?

What you need to learn in your 20s is how professional business works, how to manage people and projects, how to run an organization and how to sell ideas and concepts.

On another note, I don't like the idea of paying all-cash. 

If you get a proven operator that offers sightly less, it may still be a good idea to stick with someone who's been around the block for a while. 

Any idea if syndicator does not perform, can we fire them.

I know of a couple of good PM's if you need them and can give you a general idea of the best areas to invest in.