@Jan Walczak you will need to look into creative ways to purchase rent-ready properties where you don't use your own funds to acquire like subject-to, seller financing, using private funds, sandwich lease options, etc.

Bring tenant buyer to bank and set ip a savings account for a good paper trail.Investor to investor (perhaps a sandwich) you can do rent credits and other types of credits.Your "exceptions" to Dodd Frank is not an easy question to answer. 

The parcel of land I purchased is sandwiched between two ~8 unit apartment buildings. 

From what I've read, these options can range from simple solutions like hiring a property manager to more complex deals like sandwich leasing with tenant responsible for repairs, but I'm open to any other alternatives with which people have had success.Another concern I have is the market I'll be living in.

It's sandwiched directly between the state capital and a major military base.

Im trying to get a Landlord out of the way and place myself in the middle " Sandwich LO", but the landlord already has a tenant in the house.

Shout out too @biggerpockets and Peanutbutter & jelly sandwiches.

Subject to and land trusts, sandwich lease options and lease option assignments, wraparound mortgages, and installment sales are all ways to have the seller contribute to some kind of seller financing. 

I'm looking for opinions on whether a sandwich lease option agreement would be my best bet, and if so, how to structure it.

I have done close to 10 lease option/ seller finance deals some that I flipped and some that I held and did a sandwich lease option.