You may be better off using traditional financing unless the condition of the property prohibits this.Otherwise as others have suggested, you may want to consider wholesaling to bankroll your first investment.I'm a local agent in LV, and I'm also an investor, so please let me know if you want any additional insight. 

Generally an S Corp is not the best choice for holding rental real estate. 

They likely won't be able to obtain any traditional financing to pay you off if the home is in foreclosure and/or if the late payments were reported to the credit bureau.

There seems to be an endless supply of newer better as far as residential renters property choices.

Brandon,You should check us out at traditions jax . com.

The one benefit that flippers have here in town is that while there is a lot for sale...there is not a lot of choice of stuff that consumers actually want.

Whatever path is your choice, some mathematically more sense and other more life sense.

Should this be a first time buyers 1st choice in investments?

You have made a wise choice and found a great resource to help you meet your goals and answer ANY question you may have about real estate investing.  

I feel like I'm obliged to help them make good investment choices.