To keep things running well, think about getting a local company to manage the property, make local friends in the business, keep up with market changes, have a backup plan, make sure you have enough insurance, follow the local rules for renting out property, and keep some money aside for surprises.

Finally, getting started on my own business.

@Tristan Gardner hmm, I'm not sure if there's a good way to attach things here...certainly willing to email this to you but the below is what I use when dealing with private lenders.  

I personally have closed on a handful of properties with owner carried financing and have negotiated terms for several million in private notes for clients.

However, most private-sector jobs last between 10 and 20 years.

I also loan out as private money lender mainly in the Orlando Florida area.

@Samantha Soto  We have done this before but honestly I would run your business now as if you would run it with 20 properties. 

@Dulce DavisSome private firms would consider blankets but they are gonna cost 2x traditional financingI would take the one with no mortgage and leverage that to buy another and keep doing that - also once in a while may consider selling some inventory to get more cash

I have a Facebook page for business where I show the projects that we are doing.

For cash flow in the area STR's are a great strategy that my business partner and I have found to cash flow well.