Then wherever the water is getting discharged off of the roof, that what water is getting at least 4-5 foot away from the structure before it is left to drain with gravity away from the property. 

Now I have read some of the well off say in so many comments..

Primary residence is paid off. 

The article is off because it is comparing two different types of buyers.  

The buyer may pay off the remaining balance at any time without penalty.2.Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.Loan Security: The property will serve as collateral for the seller-financed loan.Hey @C.S.

do you acquire these properties off the MLS ?  

I found this deal as an off-market property through my local network in the Hamptons.

I make around $110k+ per year, live off around $75K, have a mortgage ($1900/mo for rent, escrow, tax), around $40K in equity, and no other debt. 

@Fabio Cattolico"if I could get an out of state property for a great price and the numbers seem promising, wouldn't it be good to start off like that if I'm in a place where buying is unaffordable?"

If I were you I would look into the possibility of starting off with a house hack.