I am in a position I am not exactly sure of the best strategy to take.

This implies likely over 8 years to have positive cash flow. 

Like you said, put the proper protections in place but know that you can still lose your money - unless you are in first position.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I lived in New Hampshire for a year and I don't think my Houston humidity built body could handle any more cold lol It is beautiful up there though.

@Jhamari HoganCleveland has solid deals that are cashflow positive.

Cash position needs to be around low $100k and I can get you a turnkey property that cash flows with property management in place as well. 

I have a term sheet from Matt and did think it was slightly high but they are only online lender that I've heard anything positive about. 

If you're ever looking for assistance, I have owned and operated multiple sober living programs for about 6 years now and also have been in the investor/landlord position.

You can try MyInvestorLoan.com, they usually don’t care if a property has a seller carry portion of financing in 2nd position.