As far as rate is concerned, you can usually go about two points over the current rate (less closing costs for a seller financed deal so there is no real expense there) You need to make sure the borrower can cover that.

Quote from @Taylor Dasch: For me, the most success that I have had as far as getting a conversation with the actual owner is D4D and then knocking on the door.

As far as calculating cashflow, I would still suggest considering all the PITI and other overhead expenses.

As far as actually closing transactions remotely you may want to work with an agent who is “boots on the ground” who may be able to help you with showings. 

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

Hi Chris from the U.P. of Michigan.Congratulations on deciding to get into real estate investing with your first Buy, Rehab, Rent, Re-finance, and Repeat or BRRRR and you are wondering where to start and who you should add to your team first.It is good you have cash or cash equivalents to buy the property and complete the repairs.As far as who to have on your team first, I would say an investor friendly Realtor who can help you find deals and introduce you to the rest of the team like a good property inspector to hopefully let you know about potentially expensive repairs early before buying the property so you can buy it well or not buy it at all.

I have docs etc if you are interested in verification and proof that I have dealt with that company.It is so unfortunate that I have to follow up what @Stylianos Kalamaras wrote concerning Blue Gate Capital.

However, I’ve reached a point where I feel I’ve gone as far as I can by myself.

As far as a location, who knows?

OOS is so much harder!