Several of my investor clients have dealt with similar situations in North Carolina, and here’s my take based on those experiences.First, you’re right about the legal framework: NC landlords must make reasonable efforts to re-rent the property, but tenants remain liable for the rent until a new tenant is found.

I started planning to move to my next property and my company decided they wouldn't cover me anymore once I left. 

I am going through that right now with my mom and step dad.

What are you all seeing in the market right now?

I don’t know how much initial equity but if your guess is right 10 cents on the dollar is about right. 

I'm doing this exact thing right now- I've been pleasantly surprised by how many people in my network have resources, cash and interest in something like this. 

Or maybe have them finance the $35k as well and just start sending me checks for $10k/mo right away?

Since you want to aggressively invest in the near future, you will need cash and the 30 year option is the right one for you.

Can someone share your experience or point me to the right place?

You are in the right spot.