Purchase price: $375,000 Cash invested: $30,000 This was a 2 unit that I purchased in 2016 for $375K.

Purchase price: $940,000 Cash invested: $250,000 I purchased a Self-Storage Facility.

You are not allowed to compound interest.If you bought the certificate from the state on a best price offer, you charge interest on your purchase price, not on the full amount of the taxes that were due, but were not paid by you when you purchased.After you obtained your tax deed, you are entitled to something called "mesne profits" if you file an ejectment lawsuit against the former owner and they redeem during that lawsuit.  

It's a super affordable real estate market where you can still find deals that hit the 1% rule anywhere from $120-180k for a single family (or $200-250k for a multifamily) purchase price.

I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

But, yes, it sounds like simply looking at your numbers and determining whether or not you can absorb a salary is the time to consider it. 

Quote from @Enrique Toledo: I came across a really good seller financing deal and I would like to purchase it as my first deal but I don’t have enough money for the down payment.can I use a lender of some sort to give me money for the down payment?

Let's assume the financials in the package are good for a moment (they probably are not) AND that you either do not or do achieve the broker's pro forma:If you purchase this asset, achieve ONLY the 'current' NOI, grow NOI 2% per year, and exit at a 5% cap at the end of Year 6, you will have a 4.8% unlevered IRR.