Very much appreciate you for sharing what you know, you make excellent points. 

Private money, depending on your relationship and level of expertise, could lay between 8-12 percent straight.

you're still entering into a long term relationship but with only one other party. 

The location in Linden, MI, and the property's structure offered an excellent opportunity for a significant value boost through a fix-and-flip strategy.

That lays out the current status of the relationship between the seller and tenant including who owns appliances, etc etc etc.

So not hard for me to justify being a REP.Google xxx excel template to find what your looking for.

@Albert Bui @Matthew Kwan Thank you for your excellent insights and strategy suggestions, Carlos!

I'm looking at purchasing a rental in North Carolina, I have Excellent credit (800+) and money for the down payment..

Now full disclosure, I am only a few months into my relationship with these providers so it could all blow up in my face, but ultimately I wanted to take action and for me this was the safest way to do that and I also figured the learning along the way might be worth giving up some larger returns. 

Only you knows how "good" your relationship is with the neighbor.