Be prepared to follow up multiple times, using different forms of communication—calls, emails, and if possible, in-person visits to their office.

Hello chat, I am currently interested in an acre lot here in Texas.

Tell me - someone selling their home to your son, Subject-To - is this a person who has made good life choices? 

I cold call and go direct to the seller and I have a 3 person team that pretty much just calls all day long for me.

I personally do not have experience managing rentals.

Personally I would pass but if you go forward I would do a lot of research on the group you are renting to and get a very large security deposit to cover damage. 

I was thinking if I can talk to my neighbor about sharing the cost (I, the landlord, personally provide labor and my neighbor provide material (e.g. fence pickets)).

Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.

Are you able to go there in person to build your network? 

So they price those homes at what a willing homeowner will pay for their personal residence.