@Daniel TrippettThe subject has been beat to death in many different threads here on BP.

Everyone on here is saying that you can do it, but it's definitely not possible if you don't have a lease in place on the unit you are currently living in or can show you are living somewhere else with a utility bill or rental lease  to demonstrate that you are not intending to live in the subject property.

Spokane has been a hot market for investing for awhile and local meetups and Facebook groups will be able to provide you the best information about what's working in your local market as well as any specific market risks / challenges.John

It's outside Scottsdale city limits (Maricopa County jurisdiction) so it is not subject to Scottsdale's restrictions.It does, however, have a shared well agreement with one other parcel (as almost all in this area seem to).

So here it isCash price:  $556,000Owner financing market terms:  $611,111Owner financing favorable buyer terms: $666,667Classic mistake of (1) not accounting for all expenses that determine cap rate and hence ending with higher net income and (2) choosing lower cap rate appropriate for property with less risk and more desirability than subject property   It's not a sellable business.

Reason I’m asking is because today reading through old posts on this subject, I came across discussions that stated if it was Credit Card, PayPal, or similar avenues, that 1099s aren’t needed since those companies issue them.

Quote from @Matthew Kwan: For those who are currently shopping or looking for a loan since rate cuts has been a hot topic.

Lauderdale, FL• North Palm Beach, FL• Plantation, FL• Pompano Beach, FLThese acquisitions were done creatively, assuming the existing loans via subject-to deals without inspections.

I was caught in a probate case on a note I owned where the subject property was located in Dallas.  

Patience can be your best friend and if you attempt to over leverage a property it can come back to hurt you.Some will recommend buying subject 2 where you could take over an existing mortgage that could be at a substantially lower rate - but if the lender finds out and calls the loan that could also be very bad.