As for the time of OO yes I think it's a year but I've never seen anything that states you have to move in immediately, just simply you intend to OO not flip or rent it. 

., is simply a waste of my time.

I would pay off the remaining 416K by getting a mortgage and hopefully have about 100K in equity.Anyone have thoughts or holes in this idea?

Start with Pace Morby and then go down a rabbit hole of videos for 20 hours and you should be able to understand most of it. 

these days buying any free standing SFR with rents much less than 1200 a month is simply not enough Gross revenue to run the railroad.. 600.00 rent on an SFR your going to lose your rear end through cap ex and maintenance.

Financial freedom goes beyond simply replacing your current income—it's about sustaining your lifestyle for life.

To put it simply, we want our note buyers to make money - if they do, they'll invest with us again and if we have to refund them because a note doesn't perform, they're likely to buy again knowing that their principle investment is safe.

A hole in the wall behind the stove-they can tape it up short term if it is really a problem. 

However Zillow and Furnish finder are simply going to give you a lead.

@John Kelly this is a rabbit hole that so many folks go down.