Definitely recommend doing a thorough background check on potential tenants, it can save you a lot of headaches down the line.

See link for details or check Tulsa events on BPhttps://www.eventbrite.com/e/building-a-portfolio-in-2024-ho...

There are many alternatives you can use, I would urge you to check your local laws but I know here in Cleveland, OH we can charge an increased deposit or we can also require a guarantor (who can have different credit req. then someone living in the unit) It's important that no matter what you do you do it for everyone going forward, making exceptions for screening for some but not all can become a Fair Housing issue. 

Rijulalso check out another post in this forum group on who to stay away from - it starts with "do not invest with".. 

@Abby S. when you get to this level of detail, you will want to check in with an architect to be honest.

Check law to determine if you are allowed to discriminate by income source if you really only want Section 8 tenants.

Check with each utility to confirm you can have the additional accounts in a tenant's name.In our North East Pennsylvania location, the water companies will allow a separate meter, HOWEVER, they require a separate water main from the street hookup to the additional house meter so they may control each meter on the property independently of the other(s) without entering the dwelling.

You can also check meetup.com or search Facebook for real estate investment groups, clubs, or meetings in your area.

Just quickly based on the amount of the first and a quick check of Zillow there could be a substantial amount of equity in the real estate.

Of course I prefer receiving mail-box money of interest checks, but have used seller funds when mine are invested elsewhere.