About 680 per month after 3.5 yrs it would be just cash flow . taxes on the property are low.

Most people think you can no longer cash flow with real estate, but you definitely can down here. 

(other than having cash/equivalent, preliminary title report, and the appropriate deed ready to go 'on hand')The MOST difficult part of this will be getting the lender to provide you with the reinstatement figure to bring the loan current (I do this and take title sub-to because it's actually easier to get the lender to provide a reinstatement than a full payoff). 

Is there any Business Owner Occupied Element or is a cash flow investment3.

In their favor:As homeowners and landlords they should be more reasonable and take better care of the place.Steady income with SSI and willing to hustle when they need more.They are motivated to make it work, offering more and reasonable concessions.If there is no carpet there would be less impact by dog or bed bugs, if either go worst case scenario.Not in their favor:They may be renting as a temporary situation until they can find where they really want to live long term, so they may not be a long term tenant.They are not familiar with the neighborhood, other than school district quality, so they may not be a long term tenant.What I would look at more:How long have they all lived at previous addresses?

That way, if you find a deal like this, you can keep your cash capital-gains-free? 

Just my 2 cents...feel like HELOCs and other ways to cash in on crazy equity is resulting in a lot of these cash transactions though.

All of my loans are also 3-6 months on average, and fall into multiple other exemptions for short-term or temporary financing.  

This means no per booking fees for our owners, which adds up to a bundle of cash over the course of a year.  

Since then, I’ve paid myself back with the rental cash flow.