Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

Jorge Newberry is the principal and a very good guy from my experience.

Glad it's working for you I slowed down on RE for about the past year and a half S&P 500 is up 27% YTD, NASDAQ 100 up 32% 

We have modified many seller financed notes over the years (with input from the servicer and a qualified attorney as mentioned by others). 

And a good property manager will take care of day to day, but you will still have work to do.

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

Wasn't for me.I'm not affiliated with the company, although their founder @Brandon Hall is a colleague and a friend of mine. 

These are professionals with additional training and a stricter code of ethics.

They all have yards and a driveway , its not like living in an apartment .   

A single-family home or small multi-unit property can be a great way to dip your toes in the water.Build a Team: Even if you’re planning to handle most things yourself, having a good real estate agent, property manager (if needed), and a reliable handyman can make life so much easier.Learn the Local Laws: Pensacola is pretty investor-friendly, but it’s always good to know local zoning laws and short-term rental regulations if you’re thinking about Airbnb or VRBO.Run the Numbers: Make sure you’re clear on the property’s cash flow potential.