Also, get all personal info (DOB, SSN) from the seller in case needed when talking to lenders, lienholders, etc.

Due to the current interest rates, you probably can't live for free, but you can definitely learn how to house hack in that first year, reduced your personal housing costs, learn the rent by room/co-living strategy on-site, and then probably break-even after move out, but most importantly, it is possible to make that work in 2025 with today's rates.It just takes being open-minded and willing to be flexible for the 1st year.  

Would you personally intentionally go out and do this?  

I personally try to avoid extroverts because they are often incompetent and irritating.There's a difference between being an extrovert and being charismatic.

Most personal loans I have looked at have terms of 10 years or less.

If you give someone over 19% membership interest in the deal, the bank will usually require a personal guarantee from that individual. 

This agreement is just like a listing agreement when you go list a home, you are hiring the right person for the job, so this is the same type of contract, but this person is hired to find you the right home. 

All it ends up being is one person saying "Is not!"

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business. 

Awesome to see a new investor-minded person here.. do you have a favorite real estate success story already?