I am currently working to find ideal properties.

You'll need to get good at figuring out what each property needs on each deal.  

I have a question regarding a property that the state took over and is selling.

But the thing is, I don't want to completely rely on other people to manage my money, so I've been experimenting with a bunch of alternative investments, including some exotic ones, like marine vessel acquisition, law firm financing, lawsuit pre-settlement advances, etc.  

. $275K acquisition  and you believe a 40 year amortized loan is necessary to make the numbers work, this transaction may have bigger problems.  

This is an investment property.

@Blair Ross Jr depends on how much experience you have with investing in rental properties.

@Angel PerezSounds like you are dealing with a C5 property. 

@Kyle Kulhanek Are you planning to transfer the property into an LLC owned by both individuals on title? 

Turning the property quickly (you have to run it like an F1 pit crew)4.