Based on what I have read in this thread, I believe the general consensus is "why".

Are you really going to make investment decisions that involve legal documents and capital being invested by outside parties based on what someone writes in these forums? 

I'd recommend to reach out to Michael Estes here in Austin - he may be a great fit to help you with what you are looking for based on your goals/anti-goals listed aboveMichael EstesTexas RE Broker License #494994www.trendRE.com

I rent properties just outside of base and have had a good amount of success with it. 

They are 14 hours from our home base.

Assuming you got a conventional loan and put 25% down, based on an appraised value of $365k you potentially could pull an additional $112,500 of equity.

Keep in mind the definition of a millionaire is based on net worth, not money in the bank.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

Especially based upon incomplete facts.  

So my advice to anyone that would care to hear it is, do not buy a property based upon a video since a video will not exactly show you foundation issues, and other things that only being in person can help with.