There is a rural property in the Kansas City area that I have an interest in wanting to buy, and I’d like to pick you all’s creative minds to help find a way obtain it with the lowest risk possible.

If you can't house hack it and don't have the cash to found the deal until its re positioned then you ruining a to great of a risk.

I understand all your fears and it is a hurdle/risk we have to overcome in order to ger skin in the game.

I had a tenant who passed away, even though she had been clean for a while and had her parents helped, her ex-boyfriend came back into her life and overdosed her.

What is your risk tolerance?

Congratulations, great timing since you probably dodged a bullet holding high risk SFH investments.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

But you do run the risk of the HOA eating that up over time with increased fees.

So if you don' t read the condo documents you may purchase and find that you can't rent it out because there are too many rentals.Also, there is a risk of special assessments at underfunded condo complexes. 

Option 1 potentially more risk but if done with diligence can be very lucrative.