Now many escrows will require that the seller sign off on the EMD release, which can be frustrating since most contracts say it should be a unilateral function (buyer automatically gets their EMD back if they cancel within the option period), but if a seller chooses to be a jerk and not sign it, the EMD could be frozen in escrow, so don't use your rent money for it. 

I have just started in a 3-day training for the Lee Arnold broker certification program and thus far just completed the online material required for preparation. 

However, Opportunity Zone investments require careful structuring to ensure compliance.Evaluate your priorities: If starting a business is the main goal, proceeds from your primary residence (with the capital gains exclusion) might provide the simplest funding option.This post does not create a CPA-Client relationship.

One of my buy box requirements is the house needs to cashflow at least $500 per month or I am not buying it. 

"light clean out required once tenant moves out." 

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

You are required to vacate the home before 5:00 PM on December 31, 2024.

Highly recommend (I require) collecting first month's rent prior to handing over keys.

They were thinking of planning another one that required massive loans (7 figures). 

The city may require more off-street parking as well.