I was told by the previous owner that you're moving out by February 1st, can you confirm that?"

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

Do you have any idea of the price point you can afford and are you looking for turn-key properties or something along the lines of a "fixer upper"?

A good designer and architect are key for a successful project like this and keep in mind these aren't cheap.There's a lot more details to consider, feel free to DM me for more details.

@Olga DaiselI think we are lacking some key details of your plan.

The key to investing out of state is finding a good property manager.  

Ihave kept this ratio in my head since the first time and make all mydecisions using it, before I move into a market.

If your friend is unwilling to pay that then move on.

It would be better to open a new card with 0% interest on balance transfers, move your debt to that card, then pay it off like a mad man before interest is charged.Your scenario indicates you aren't financially disciplined.

So move forward and add whatever language is needed in the lease to deal with this matter.