First, I would raise the rent slightly higher than market rate and see if the smoker stays.

The sales price is contingent on the property appraising for the agreed-upon value in that given timeframe.The goal of subject to, for the buyer is to take advantage of your low interest rate, maximize profits to pocket as much cash flow as possible, and then, however, in many years be able to cash out refinance and pay your mortgage off in a lump sum to acquire full rights of the property.

To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.

If I remember correctly, the redemption rate in CHS county is something like 80-90% and the interest that can be earned is capped.

As someone else mentioned I think that Househacking a multi family is your best bet and the recommendation I give to everyone looking to get started or even someone looking to buy their first home.House hack is the easiest barrier to entry becasue your cost for downpayment can be as little as 3.5% FHA or 5% conventional, and you usually get the best rates as a primary residence borrower. 

You could try advertising to your guests.

At that time, the builder will pay the accumulated interest along with the principal.We have discussed a few different options to structure this arrangement, assuming an interest rate for interest-only loans with monthly payments is 10%:Option 1: delayed interest with a rate of 12% (interest rate is 2% higher)Option 2: charge a lower interest of 8% then profit share (need to determine appropriate % split)Any other thoughts on how to structure this arrangement?

I then thought of the idea to offer they a fixed rate if they private lended me cash on a short term (5-10 year) period.

5) Talk to experienced property management companies and get their feedback on areas, current rental rates, tenant base, etc.

I have one property that I bought last year for $475kCurrent value is $520kInterest rate 6.75%loan amount is $352,000 (I put 25% down when I bought it)Monthly P/I escrow is $2680Rents for $2400im debating putting 100k on the loan and recasting it. this will lower the payment roughly $650 a month and will make it cash flow.