Most of our loans are fully amortized and those that aren't, are 10 year balloons where we'll have more than 50% equity (at the purchase price) upon loan maturity in 2030+. 

Is it necessary to include photos of the exterior of the property for Airbnb? 

My goal is to purchase my first property between now and mid to late 2025.

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

I don't think I can ask the seller to evict prior to purchase, although that would be the best scenario.

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

And even it's SF when you purchase it, again because it's not 100% MF including the county/city classification, you can use rental income from both units to help you qualify for future investments.Option #3 is something to use only when you're not willing or able to move into the property.

I want to create a fund that will allow me to purchase distressed homes, fix them up, and sell with owner financing (possibly including a 5 year balloon so as to be able to recapitalize periodically and give investors a shorter horizon).

It is 100% the buyer's / investor's responsibility to do Solid Due Diligence before purchase. 

Purchase price: $415,000 Cash invested: $90,000 MY FIRST RENTAL PROPERTY !!