Of course, almost all of that could be mitigated by getting a local investor friendly agent which sounds like the most logical choice to make this early in the game.

@Drew Markert I'd also just keep in mind a house built in 1990 sounds reasonably new and in a lot of aspects (plumbing, electrical, foundation style) it is very new, but a house built in 1990 could still be on the original roof, furnace, ac that if they haven't been replaced are going to be right at the end of their useful life.  

@Raza RizviThat sounds unfortunate.

Does this sound legit, is this a real possibility?

Here is a suggestion for real estate investors flippers using QuickBooks-You should have four main stages in QuickBooks as Class:- Leads- Rehab- Sold- Overhead expensesKeep track of each property expenses immaterial you buy or do not close the lead.As each property progresses in the stage, change the subclass of the property.

Sounds like deals have been more challenging to come by. 

Your way sounds like a good option with less recourse.

It's a good question, but without sounding stereotypical, it makes people our age less stressed and anxious to buy a house when someone their age is helping them through it, and that's where we have an advantage.

From what you write, it sounds like the tenants do have existing, one year leases.  

This sounds a little bit like a dating profile but hey, lets give it a shot!