I'd like some input on wrapping my head around a potential first house and if this sort of deal/rent makes sense.

Extremely motivational! 

Sebastian in Claremont CA These are photos of the condo: https://www.zillow.com/homes/991-W-Sierra-Madre-Ave-.num.2-A...And And these above are the new home (ADU) rented for $1,875 p.m  Just trying to motivate you… that’s all. 

Data point: we have a long-term rental in a popular STR neighborhood listed through Zillow right now.Every person who writes asking to do some sort of arbitrage is blocked by the Zillow platform.I don't even have to say "no thank you anymore."  

It’s a bit of a tangled web, but if you need more info on it, do your research first, and then you can contact me to help you sort out the current rules. 3) The tax benefits are severely hampered if you there is any money from your original property that doesn’t get spent on the replacement property, so it’s best to purchase a more expensive one to avoid losing those benefits.4) It is imperative that you do not receive any money directly from the sale of the original investment property.

To evaluate Real esteate deals for creative financing, start by identifying seller motivations i.e. financial distress, desire for passive income, do they need a downpayment on their next house, etc  and property factors like equity or existing financing terms.

Geraci charged $500 to sort it out and helped me fill out the Lightning Docs online template correctly. 

Karma will sort it out. 

I would be comfortable to some degree as this would just be a saving plan of sorts.

Tenant is pretty motivated to pay on time, or the city won't allow them to be there either.