Consider house hacking when rates and prices are a little more balanced with reality.I would prefer a duplex/triplex but I know getting into a single family home and renting out the rooms is more accessible .

I would have preferred a smaller 50K to begin with. 

., preferably with a great outdoor space.

With investment properties, most lenders I work with prefer to have an address to work with in order to provide a "soft" quote, which does not include a hit to your credit.

Replacing a bathtub with a shower can make narrow bathrooms feel larger and more modern.That said, consider keeping at least one bathtub in the building for market appeal, as families with small children or certain renters may prefer it.

@Mitchell Rosenberg  - I think the overall thinking is that most prefer areas that have a growing population with a growing/stable economy base that is diversified.

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

Super nice guy, and a genius.You can also go checkout Divorce Lending Association and find a local CDLP if you'd prefer.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

Gita,At least the way I prefer to do things is to only run accrual based accounting activity on my day to day operations.