This approach allowed us to move quickly and efficiently, ensuring the project stayed on track.

Properties, for novices, which look good on paper and have good cash flow usually come with C to D+ areas, risky tenants, and a lot of cap ex that you can't see on the internet (basements, roofs, water issues, outdated mechanicals).You are turning a terrible loss into a springboard which is great, but you are trying to move too quickly it sounds like.

REI is a slow moving train.

If for example the seller owe's $300k and the buyer has $300k to put down, the sellers lien would need to be paid off and closing costs and RE professionals paid before the seller could move into the first lien position as lender. - Seller is a business person.

and break even when you move out in 2 or 3 or 5 years. 

I tend to like to invest where there are jobs and where people are moving to********************Ranked: Population Changes in U.S.

@Derek Gardner looks like you have several moving parts here. 

My goal is to buy the house, terminate the section 8 lease as soon as possible (at the lease term, to avoid eviction process), and search myself for other better tenants.

Get a move on there!

Will report back on that process!