Our slow season is months with some of the best weather IMO and people come here to escape bad weather further North.

Being as transparent as I can with this, there is a huge benefit to the Homelight Program and we have used it before to help people looking to get into a new home. 

Outside of real estate, I enjoy spending time with my wife and kids, as well as playing golf, collecting comics and sports cards, and binging the next show on Netflix.I am very excited to meet people with common interests, network, learn, and help where I can.

The flip side I've noticed is they're usually personally guaranteed which may or may not be a deal breaker for people

THis is a scenario, its not a deal im working on, people sometimes have accidents or what not and need to get out of debt fast, i know this type of deal exist but i dont know the name for it.

I understand that the IRS requires the properties be for investment, but since they were gifted, I'm not sure what they would look at to determine.   

I found my go to handyman on Craigslist over 10 years ago.Today I would use a local RE FB group or a recommendation from people in my RE Club.

Columbus has ranked on the top 10 markets that outline that for the past 6 months at least. the best place to buy new builds is in higher priceopint markets but where the costs haven't gotten out of control. besides that I'd recommend working with a vertically integrated land development, real estate development, and new construction firm or design build firm who also understands market conditions. 

I have done this a few times myself and have a few basic recommendations:1) Make sure the seller owns the property free and clear and that it's very clear to both parties whether the arrangement involves a deed of trust or contract for deed2) If a balloon payment is involved, be sure to assess your ability to refinance and make that balloon payment in the future- optional extensions can help manage this risk3) Understand the tax implications if the interest rate is notably above or below market rates4) Get title insurance! 

@Tim Bee, what @Russell Brazil said but also when it comes to restoring the property to its original condition you can require them to escrow the funds to do that restoration work up front because we all know its hard to collect from people as they walk out the door.