Is it better to have a willing seller and buyer before sending the initial purchase/sale agreement?

In the next 2 years, I'll be looking to purchase a MFR to househack. with the idea of reinvesting all of the cashflow to help scale.

Purchase price: $137,000 Cash invested: $90,000 Sale price: $285,000 This was a single family home in Bates Hendricks.

Specifically, I am looking at partnering with an individual who owns securities (stock and mutual funds) having them take out a line of credit against their portfolio (SBLOC) at a low interest rate, and using that to purchase properties rather than using a mortgage.

Quick update: I purchased the land hacker course from Kai and currently diving in. 

Purchase price: $178,000 Cash invested: $10,000 primary home own use has an Airbnb/ short term rental 5 months out the year/sometime this year will try BRRRR

Purchase price: $253,000 Cash invested: $130,000 Rural hobby farm on 4 acres.

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

When I first started out I purchased everything with 20% down and had enough available much through credit cards which can be problematic also to withstand a few months of vacancy or a $10k repair.

I like the strategy of having a job with guaranteed income and taking advantage of owner occupied financing to purchase a house hack, staying connected with the REI community in the area, and scaling up from there.