You can also think about a strategy that combines a house hack with a "live-in flip" where maybe the duplex isn't in a condition where you would want to live with your family when you purchase it, but you could do value-add renovations that improve your families day-to-day living but also the value and rental income for when you all move to the next property or sell. 

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

The best strategy is to focus on properties that cash flow at today’s rates and consider a refinance down the line as a bonus rather than a necessity.

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

They are a great way to learn the day to day of the PM world. 

It's a bit outdated, I think there are better solutions today.

If the latter, how does that look on a day to day in terms of operating, marketing, and the ownership structure?

The trainers just pivot to what is working today and set up training in that niche.

Was told today they had everything they wanted and then opps, something else has popped up now.

If you believe you can help people, get rid of your protege program as it is today or transform it into a modern day sales funnel.