I have 3 apartment complexes and over 600 units?

Straight am doesn't add that much more for you while IO adds a level of complexity and seller convincing that's unnecessary. 

I am developing an 8 Unit Apartment Complex in Texas.

This allowed me to build a team and not get too in over my head with a complex rehab. 

Therefore working with and renovating SROs are typically deeply complex project and a great extent of due diligence is needed before purchasing.

Hey @Steve Moskowitz, I am completely fluent in Spanish and able to explain complex information to any client, I WOULD LOVE TO HELP!! 

It adds an extra element of complexity to the process (now you have to negotiate buyer-side commission as part of the deal). 

If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.Good luck!

Also, after 6 months like you said, I believe you could easily get a cash out Refinance with a DSCR option that would be in the 5% rate as well.If the owner is not interested in Owner Financing, as long as this a 1-4 unit complex, we could get you financed at 80% of purchase, 100% rehab at 11.25% Interest only, I may be able to go as high as 90% of the purchase, but I would need additional information.

A local condo that you can easily check on might be a good way to learn the ropes of being a landlord without adding the complexity of long-distance management.Out-of-state investing, especially in areas prone to natural disasters like hurricanes, comes with additional risks.