I know in the Texas Real Estate Commission contracts there is an addendum for owner financing and this explicitly states that the seller IS or IS NOT giving you permission.This is called a wrap around mortgage, AITD or all inclusive trust deed, or just a wrap.My aunt owned her house free and clear.

In the event I need cash, I could easily sell one (or all) of my SFH to EITHER an investor or an individual buyer...quite simply, the buyer pool is much larger.

I don't generally recommend using retirement funds or all your savingsSet your expectations realistically House Hacking and Flipping are good options but if we all could make $120,000.00 a year with minimal funds or effort we all would. 

It is difficult to say which state as a whole is hot for rental property right now also depends on whether you are looking for all Cash Flow (CF) or all Appreciation.

If you can buy a multifamily and occupy part of the property while renting the rest, that tends to be the fastest way to scale real estate because tenants pay most or all of your cost of living.Time and again, I hear stories of people who got started with "house hacking" and never looked back.

If there is a market downturn at the time you want to sell one or all of the new ones, you cannot claim a capital loss. 

The difference between it and a Warranty Deed (WD) is that the Grantor does not claim or warrant that (s)he has any right title or interest in the property to convey or that there aren't any defects in or encumbrances on the title.Title underwriters prefer to have their insureds receive title by a WD because then if there is a title defect that is identified after the conveyance that costs the underwriter money, they may be able to go back against the Grantor for some or all of the loss. 

Especially the time lag it takes to raise rents and replace some or all of the tenants is something most people doing this for the first time way under estimate.

Is there any special procedure for this or can it be an oral agreement.

@John Blanton, I agree that it is not always as simple as higher rent/revenue + decreased expenses, although technically with RUBS your expenses are the same, you are just pushing bill back to revenue side.I am not sure how many renters really know what utilities cost, especially if the are consistently living in older properties where LL typically pays some or all of the utilities.