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

I've already got a salaried position which demands more hours than it pays (like they all do), so something with minimal hands on requirement in my spare time would be ideal.

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

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

: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.

@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.