Tyler,Within my 20 years of experience as a landlord, if I had $150k and good credit, I’d focus on either flips for fast capital or rentals for long-term cash flow—trying both at once can slow you down.

They have no credit history, so you have no idea how responsible they are financially.

This person had never used credit.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

I think they used to go up to like 80-85% CLTV depending on credit score.

• Is this a better strategy than using your own name, capital and credit to start out?

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

(May also cut significantly into the current cash flow on it)I know you mentioned not doing a HELOC on my primary, but wouldn't it be advantageous to have the ability to pay off the line of credit instead of be stuck in a payment that is much higher? 

Of course, these properties are full of challenges so be prepared before you start. 

At the moment with 3 rentals (6 total units), I have one account and a credit card associated with it.