The plan is to use the proceeds from this rental to buy another rental property for about $650-700K, plus to pay off the home that they live in now ($260K owed).

You don't need 20% down.Sounds like a great plan.

If they buy something for your property and you pay them back, it’s just like you bought it yourself—so you can count it as an expense in your bookkeeping.If they don’t get reimbursed, then technically it’s a gift/donation, and you can’t deduct it as an expense.

Over the next 5–10 years, I plan to scale to a portfolio of rental properties and eventually diversify into syndications.I’m particularly interested in the Lynchburg, VA market and other areas with strong rental demand.What I Bring to the Table:I’ve been saving aggressively, and I’m exploring physician loans to help get started with minimal upfront costs.I’ve done a lot of reading (shoutout to BiggerPockets books!)

We love having someone else pay over half our mortgage payment!

@Victor Longinotti my vote is you contact @Jaycee Greene and pay him a few dollars.

While buying one that’s up and running might seem a good idea - paying for speed - if you’re not quite ready, sometimes the best deal you make is the one you don’t make at all.

Now, you need to figure out how to find deals and pay for them.

Are you planning to rent it out or live in it?

You are bold for taking on a non-paying tenant.