Ensure you are buying in an area you want and can see your family living in.

On the buy side you can snag deals and have leverage so it helps with buying deals right. 

However, you could buy a property with seller financing.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

You buy a property SubTo 2.

I am also still buying flips/LTR..

I know you don't want to deal with tenants and their problems, so why not either:A - Buy a NNN property where you don't have those problems, but still have cash flow,...orB - Take your $500k, and partner up with another investor where they deal with the tenants.

Quote from @Roger Paschal: Quote from @Quentin Hollis: I'm currently working on my first real estate deal and will be buying a property subject to the owners existing mortgage.

Quote from @Harsaha Lenka: hi Jaycee, Thank you for replying, Yes i wanted to buy 4@Harsaha Lenka I concur with all of @Matthew Drouin's comment.

Both of these allow you to low down payment loans to buy a primary residence with fixed interest rates.