Please somebody help me with your take on what I've described. 

I have read an article that describes a scenario that you can be added to the title, then 6 months later refinance the house to avoid closing costs and purchase costs.

One of the ideas that sold me on real estate investing is that real estate is a "multi-dimensional asset," as described by experts, like Jason Hartman.  

Think about it, a potential scammer would outline everything the way you describe your lender has, only to disappear.

You're pretty much describing just what I've been running into.

I have never even heard of a five year lease for a residential property.My husband and I were able to do what you describe except we did not have renters lined up beforehand.

What you're describing is setting off some alarms in my head.

The insurance cost for this scenario is a little more complex and difficult to put together.That being said, which of the above best describes your set up?

That makes sense although given that I am new I couldn't be as hands off as you describe (yet it is good to keep in mind for down the line).Now, I would want to see multiple properties in multiple areas of town to get familiar with them, the costs for the area and possibly pay for a contractor's time so he/she can show me what to look out for and what the costs could be.This would be needed for at least some time before I would be comfortable enough to pull the trigger on something.I just red J.

My goal is to one day get into the big multi units like you have just described, but since I am just starting out, I figure its best to cut my teeth in something a little smaller.