There are going to be a lot of people on here who are going to mention "buy term and invest the difference" because they've been fed information from Dave Ramsey and other financial entertainers that whole life or universal life is a bad "investment".

He owns the home free and clear and said he would entertain seller financing. 

The strategy consists of purchasing "fixer upper" single family and multifamily properties for cash within the markets that meet my requirements, flipping and holding as LTRs for a minimum of 5 years, then entertaining the idea of selling for a 1031 exchange or pulling financing for more purchases.

When you make a fair, educated offer to someone who's been sitting on the market for 90 days or more, chances are they entertain it.

HI @Brad Simmons   I was able to get an entertainment related tenant, took only a couple months, i got sort of lucky there were some other warehouses in the area that were vacant for 6 months or more, but mine had a 20 ft clearance, which is rare in the area.  

I know Arlington has issued an ordinance making STR's illegal everywhere except within 1 mile of the stadiums in the "entertainment district".

They are educational, entertaining, and inspiring.  

Big demand for homes that can sleep and entertain a lot of people. 

Should I entertain this idea at all?

We are entertaining the concept of doing a JV in the near future.