One more through as I hit post, the structure of the financing is going to be very important and will determine how good the deal is.  

It's going to be very hard to find a house with a basement in the Hampton Roads area and/or a house with a separate structure that could be used as a rental unit.

How have you structured your seller financing?

I have been trying several different methods of acquiring properties in Myrtle Beach, SC but nothing is really bringing in deals at a consistent pace.

We are extremely concerned, as the house needs termite, structural, and additional work before we can move in -- we have contractors lined up as soon as possible after closing, because our apartment lease is up in a few weeks so we will HAVE to move in at that point. 

How would you guys structure this and how good is this deal?

I remember Robert Leonard saying that he uses that method to access the equity for additional funds to renovate a property.Jeff V

We are extremely conservative so we are targeting bread and butter three bed two bath 1,400- 2,000 sq ft houses or multi family that can be flipped to a house hacker or first time home owner.How We are using several methods to unearth deals.Scouring the MLS - searching based on criteria and then sale price compared toWebsites and digital advertising (Facebook and AdWords)Direct mail - Acquired lists from List Source (not happy with them) and have been sending postcards to older owners that own SF that meet our criteria.

Another acceptable method, at the discretion of the Landlord is for A Family Member to lease the property in their name, and be responsible for the rent.

No point of going traditional rental when you can use the Airbnb/corporate method to live for free.