Multifamily properties, like duplexes, can be particularly appealing because they allow you to live in one unit and rent out the other, which helps with covering the mortgage while also generating income.Another option is to invest out-of-state in markets where property prices are more reasonable but still offer great cash flow.

Marketing?

Looking for ideas on how I should think about structuring such an arrangement.Reventure has suggested that Connecticut is the best market in the country for investing in flips.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Want a market thats booming?

It was an off market property that was sent to me after connecting with a property investor local to the area.

Normally they're very generic and don't really give you the info to be successful in your local market, or maybe any market. 

.: I don't recommend using a HELOC or cashing out equity in today's market.

Land contracts often allow for a higher price, typically 5% - 10% above market value, due to the flexibility they offer buyers.What's the average interest rates charged on these relative to regular mortgage rates?

As for cash flow, from sales; probably in year two and three which should match the timing for the housing  market to reset past bottom of market and on to the stable appreciation side again.