Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

It's an 860sf unit, so it would be right around the $2.00/sf mark as a LTR, if not a bit higher.I inherited an existing long-term tenant in the first floor apartment, so that unit isn't in nearly as good shape as the fully renovated upstairs unit. 

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

with an interesting U-shape, but short-term money is still more expensive than long-term (https://www.ustreasuryyieldcurve.com) . 

Qualified Intermediaries come in all shapes and sizes. 

If the houses are in decent shape and could get traditional financing do not sell seller finance.

I designed a little U-shaped kitchen to fit right in the space.

And many of them looked in decent shape, not 200 years old structure ripped to sticks. 

But, but, but; it was in no way shape or form "passive".

We will see how things shape up.