I've worn three hats in the seller financing world (as a property buyer, as a property seller offering terms, and as an investor that buys seller financed note). 

I picked a mentor and a team to follow and the rest worked out

It seems like you have some very solid goals of multiple income streams, and a well calibrated risk tolerance. 

That means an 800K purchase and a 200K rehab (1 million invested) can result in a 400K tax credit that results in 360K CASH back in the pocket of the investor.  

If he doesn't move out you have to go to your county precinct office and file for eviction, at which time they will give you a court date and a constable will notify your tenant of the court date.  

If you don't already have boots-on-the-ground and a trusted network, it's going to be tougher to do.

Put in about ten grand and a summer's worth of weekends in sweat equity and the deal is very sweet.

Hi Aaron - check out our lender page here on BiggerPockets - you can see info and a long track record of strong reviews: https://www.biggerpockets.com/business/page/49Also, sharing links to the 10-Part Article Series we published here on BP on everything you need to know about DSCR Loans - we are fully committed to transparency and providing info/guidance to the BP investor community!

I have a contract on a house in Phoenix AZ with a value of $500,000 and a mortgage of $288,000 to be taken subto.

Like Having a great base of index funds and a fully funded IRA before throwing savings into crypto or the newest AI quantum-powered dog walking business!