I personally would doubt I could find 30% down on that.

Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?

The seller purchased the property to do a favor for someone and the person died.

Personally, I liked Debexpert more, but everyone has their own opinion and Paperstac is good to buy an asset if you know what you want and if you need to sell a note quickly.

Shame on those here recommending it.Similarly, don’t even consider borrowing against your personal residence—even if you could qualify.

Consider whether an LLC is right for you—it can provide liability protection but isn’t essential for a single property, as personal liability insurance and an umbrella policy may suffice.

It is important to remember this prior to considering investing in these instruments.I will be periodically, provide you with updates in my personal journey into this arena and all information is specific to my locale and view-point.  

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.

I'd be going to as many in-person networking events as possible...here is a list of the BP events:  https://www.biggerpockets.com/forums/521-real-estate-events-...I have a separate list that is more encompassing that I can share as well!