In other words, it is a 2 bedrooms condo-hotel that can be divided in 2, with 2 private entrances (=2 front doors).

We are looking forward to this new adventure and really hope to secure a lucrative and stable future for not only our child but his children too!

The person managing for them (not always a good, licensed property manager, but one that will do what the owner says) gets a new tenant in quickly that has first months rent and security deposit and some form of job.  

I use to not accept pets but then the tenant would sneak one in.Now I charge an extra security deposit of $275 per with a max of 2.

Not sure how to even go about finding a private lenderJust hoping someone can help me set off in the right direction.

I'm also a private money lender and active in RE, and therefore we may be able to work together.All the best,Jamie

You could get some cash on a non-owner occupied property from a private lender, but chances are it will be too expensive to make sense.

Private lending is relationship based, so don't go in treating him like a bank, unless you know he does that :)Best of luck!

I like the buy and hold property strategy, but could also venture into private lending.

The property is 1,020 sq ft home  4 bedroom, 2 bathroom, condo that was built in 1953,  with an appraisal of $91,000 (Repaired), $70,000 (As is) .The only special features the property has  is that it has a basement and private parking which is a plus because most properties in  the neighborhood do not have.