If you don't meet that 12 month seasoning requirement and/or want to hold the property under an LLC, a debt service loan may be a better option.

If you don't have the extra cash, can you get creative with a private lender or partner stacked on bank debt? 

Property managers typically belong to state or national organizations that continuously update their contracts and processes to maintain compliance.

And it’s about to be very personal to you as the one who is going to be responsible for it, and maybe have a significant debt to pay back on it.The vast majority of business owners selling their business genuinely want to see it continue to succeed, even if it has no monetary impact on them.

Is MultiFamily Wealth Nation part of MultiFamily Mindset Program that you are writing about? 

You could structure a low down payment with interest-only payments for a set period, then refinance later.Master Lease with Option to Buy – Control the property now, generate cash flow by leasing it, then buy once it's stabilized.Sub-To or Wrap Mortgage – If there’s existing debt, you might be able to take over payments or structure a wraparound mortgage to benefit both parties.Hard Money or Private Lender for Reno Costs – If you secure a seller-financed deal, you can use private or hard money for the rehab without tying up your own capital.BRRRR Strategy with a Bridge Loan – If you can get the purchase price down, use a bridge loan for acquisition and rehab, then refinance with DSCR or conventional financing.Would love to hear more details to help structure something solid.

Does seller have debt?  

Look into a DSCR, Debt Service Coverage Ratio, loan where the rental income can be used to qualify the cash out refinance instead of your personal income.To Your Success! 

I did run the numbers and it seems I'd be accruing more debt with higher mortgage than currently.

I don't anticipate things to be that bad this time, but the value dropped over 25% back then and we are unsustainable at the point of the affordability cycle we are at now.You basically will be buying a monthly debt, speculating the value of the property is eventually going to go higher than you bought it for.