It’s great to see how excited and determined you are to start your real estate journey. 

I think Chris makes a good point of determining the strategy - performing 1st position notes is always a safe "dipping toes in the water" type of note to go with. 

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

Then, with that in mind, determine your mid and short term goals.

How you manage the investment determines the returns, and you don't have a track record to show that you can manage well.It's possible, but it's going to be difficult.

He can change the lease, which determines both rent and access.

Determining a list price, photos, advertising, sometimes staging and open houses, arranging tours…what else?

In Metro Detroit area, police will not remove these types of occupants (they are afraid of scamming landlord having police remove legal tenants), calling them a "civil matter" forcing landlord to start court eviction process. thats a good question Drew.. but I bet if the police are aloud just a little bit of fact checking and do police work they can determine the fraud very quickly.. 

But it's what my thoughts are and determines how we will operate and spend our money.

Market research: Research 3-4 similar properties on Furnished Finder and Airbnb to determine your rental rate.