@Craig Holland Land is often sold with owner financing, in part because buyers have a hard time financing it, and in part because buyers often only need a short time before they can build on the land and refinance out of the seller loan. 

You don’t have to pay $20k+ to learn to broker loans. 

We typically pay somewhere in the range of $3500 for a new, basic furnance, including install, if there are no other modifications to the system required.  

This money gets added onto the back of the loan kind of like a VA funding fee does. 

And while a 1031 exchange isn’t an option, some people explore alternatives like installment sales to spread out taxes or even tweaking the investment structure so your returns are treated as interest instead of equity.There are definitely some creative strategies out there. 

Can you be financially free, sure, consider if you are buying real estate you will no longer have stable income to get a loan.

That's a terrible idea.He should either install a smart thermostat that allows him to set limits, or he should remove her from the property.

(by the way if I don't have the $1000 up front he will let me pay in 3  installments that add up to 1287?

An option is an encumbrance, buy the property subject to the option at a lower price, if the optionee buys, you sell, if not, you still win.A deed in lieu of foreclosure can be had after the note is purchased at a discount.You can buy the note at a discount and have the owner refinance, same with installment contracts. 

Financing options do exist: hard money loans, renovation loans, and some traditional mortgages can be used on distressed properties if criteria are met.