I work directly with other private lenders who have been doing this far longer than Pace's program who have established a great track record of ongoing incoming deals and have legal systems in place.

Of course, I am not familiar at all with MN laws.Hope this helps point you in the right direction.

Lead by example. 

On the other hand, a poor location can lead to lower property values, decreased rental income, and a longer return on investment.

Any leads, advice, etc.- highly appreciated!

Ask if the seller wants to be the bank, explain the savings in cap gains, and then see if you can structure a lower down payment to go direct and then you can pay the price they want if you adjust the principal and interest in your favor.

Also, they are usually approved for a max number of bedrooms and if they want a home with more bedrooms you'll need confirmation from their caseworker.Are you self managing your home and I assume you are interested in a tenant with a HUD voucher?

It makes small self-managing landlords like me money, so I should probably just tell you to swallow this.I'd fight.

This is a great forum with very knowledgeable members that will help to guide you in the right direction.There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

Layers of complicated docs and arrangements lead to... potential complications!