-Legal Protection: A real estate attorney should draft the seller financing agreement to make sure your interests are protected.Final ThoughtsThis might be a pretty awesome first project if you can work out some sort of low-down, seller-financed deal with sweet terms.

15-20% for STR and MTR here in Alabama.We have a STR on Dauphin Island and that PM charges 24% but a "lot" of routine maintenance is covered in that.

I do my best to keep up with it and give them reliable information, but I'd really like a routine place to check each morning so I'm giving them the best and most up-to-date information possible.

There are a couple opportunities thats on MLS currently, and I am crunching through my math and it seems to work out well (positive cash flow, decent cap rate).Some key assumptions I hope still holds true today:  low vacancy rate in general. ~1000-1200/month for a room in a single family house / duplex. 

Which in itself gives me major pause, because these rescue capital loans almost never work out.2.

It would often work out as a win-win for both sides.

If I do purchase, I'll most likely do 100% cash and/or a small position via DSCR if the numbers work out.

I’m going to suggest to find an experienced real estate investor/flipper/wholesaler you’re comfortable with and work out some type of partnering arrangement. 

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

If you find the right small town area it can work out well.