There's already post here with a response a few down that covers the types of forms that you should be using: https://www.biggerpockets.com/forums/49/topics/413352-private-lender---forms-requiredTypically, the lender (you) provides the forms after their attorney drafts them, but the borrower (your friend) would pay for the cost of doing that.  

I was hoping to hear some different ideas on how to help me get to my next property faster and different creative ways to continue.

Anything you see online can give you an idea, but it can never be 100% accurate.

So, yes, it's a great idea to require for situations like this one, not just for the tenants' personal belongings.

I also know that Airdna is a great tool to search for markets; however, as someone new to real estate, evaluating and choosing between different markets is a lot to take in; I tend to get analysis paralysis when presented with loads of stats that I haven't quite yet learned how to analyze effectively.I should also mention that my idea is to buy some land and build an A-frame cabin.

sure. but this idea of cash flowing in month 1 or year 1 is extraordinarily unlikely in today's market.

I have seen places like Cleveland and Columbus get mentioned on the forums as a good place to invest but I’m open to other ideas.

While these are 'listed' and not 'rented' amounts, they will give you a good idea.

So the other idea is after everything is said and done.. take a loan out repay 50k and rebuy the stock.. and have like a 10 or 15 year loan to pay it backThank you for listening 

I like the idea of a lender looking at the deal and not pulling my credit (again), but I'm wondering how paying such a lender back would work, considering a (likely) higher interest rate and short amortization period.