They come in a few different flavors.

In my own house, if I detect a mouse, you place a trap with delicious peanut butter.

You have refrigeration, Air Conditioning, a smart phone, the internet, Air Jordans, two computers, take vacations, go to college, 37 flavors of ice cream, have 365 channels of TV (I didn't say they were worth watching ;-) health insurance, life insurance, fire insurance, auto insurance, home owner's insurance, SDIRA, 401(k), plastic surgery, viagra, fast food and can call the shots of just about anything you want to do or be.I grew up in a 790 sq ft house with 4 brothers, a cousin & aunt and my folks. 

I'd try to get a blanket mortgage on both 'deals' you mentioned, as trying to find financing for the $50k property alone may be tough.I don't think that using a private lender will net you a better interest rate than 7%.Also, while your way is way more delicious, it's conventional financing, not confectionary.

Step 2 is to "pick you flavor", REI reminds me of the Baskin Robbins I went to as a kid, I would stand at the counter in paralyzed awe as my Ma would say "what do you want", "all-of-it!!!!!!"

As you will be learning, all real estate is local, so getting the flavor of how things are viewed in your area is another first step before diving in.

Pick your flavor.

There's some sort of chemistry involved, but the quick version is that it makes your meat much juicier and more flavorful than not brining.This link right here takes you to a pretty good catch-all brine:  http://www.food.com/recipe/basic-brine-for-juicy-t...It's basically just water, some salt, and some sugar.

@Jeff Kehl That would be great, and if duplexes/multifamilies aren't your flavor feel free to pass them on! 

Besides enjoying some champagne, I like to have a wonderfully delicious and pretty expensive meal..