That being said I don't recommend your method mainly because it could be seen as taking propriety property. 

I thought of the following method to finance and structure such a deal and I'd like to get your opinions on how/if this can work!

Hello! I'd like to know your thoughts and experience on accepting rent payments. In the past, I've accepted checks with no problems and online transfers with no problems. Unfortunately, I just evicted a tenant this su...

What purchase method do you plan on going with?

I know that I can present an investor with a solid return on their money.Are there any creative methods to gain access to $10,000-$20,000 in order to cover my closing costs?

I think most of the methods and tricks I read about are pure genius and would like to try them out for myself.

@Brent CoombsI do believe i could get all my cash back, I have heard this method preached by many people on BP over and over again and I'm convinced it will work...but you must understand that this is our first one so there is always the air of uncertainty since we haven't gone through the process. 

Are you pleased with this method to start into real estate investing?

Ken,The "BRRRR" (Buy, Rehab, Rent, Refinance and Repeat),  method can be a great strategy too.

1 method of checking hot areas is following the money.