I don't believe that many people on this site have been in that much of a financial bind (after all, no one would ever invest in real estate with negative cash flow), so it's going to take some creative traditional and non-traditional methods.

Never ever rent to friends or family.

I don't know if I ever really accomplish much but it is nice to get together with like minded individuals and discuss what we are involved in and hopefully to help someone get started.

 +10 points for the fastest reply ever to an initial post.  

Now if you ever got audited, the IRS might disallow the non-gain transaction, but not likely.

You'll find more mentors than you could ever imagine just by reading good quality business, investing and life books. 

If you ever want to talk shop, hit me up!

Why on earth would you ever want a tenant to pay under market rent for 5 years?

Unfortunately, when I was 54 I suffered from 2 serious medical problems and I've bedridden ever sense but I have spent much of that time learning how to become a real estate investor while not working. 

This post right here might be the most detailed I've ever talked about it in fact ;) as for timelines: if you want to get a great deal, I recommend moving very quickly.