Is this a good strategy for a beginner and what traps or loopholes do you look out for in this kinda deal.         

I'm pretty sure I've heard this loophole was closed.If collections are brand new, do NOT pay the collection agency. 

Additionally, we have to hand deliver or send the deposit back via certified mail within 30 days of the end of tenancy, along with an itemized list of any deductions.Again, not sure of the laws in Ga, but make sure you don't get hung out to dry because you missed out on one of these little loopholes.

If you can find a lender that is investor friendly, they can help you "house hack".I think a lot of banks like to see you occupy the property for at least a year... but if you can find a loophole, more power to you!

Loopholes of Real Estate is a great book by Garrett Sutton. 

Now, I am no expert but I know that there are loop holes around that. 

Make sure when you sign the contract that there isn't a loophole for the seller that you have to come up with the difference out of pocket.

Do you guys have any tips or advice to give in regards to financing, property management, or other loopholes I might be missing?

I have a "loophole" in the fact of my 4plex was built in the 60s and has thick asbestos everywhere, which I would need the tenants out if I cared to do away with all that.

I like how you're looking for the loophole lol.