Welcome,Good choice in going w/ KW.

.- Boutique Hotels (Gulf Coast tourist towns or in popular/historic neighborhoods such as New Orleans Garden District)- Convert older buildings into luxury apts (Happening in downtown Houston!)

Gastonia, NC has a few popular neighborhoods that are good for buying rentals built 2000 and newer with 4 bedrooms and 2.5 baths.

That is the choice I was leaning towards, but I wanted to make sure my thinking was in the right place.

@Sean Treston This is a popular topic in the forums so you can browse and find other posts for more advice.

A buyer came to me asking if I can seller finance to him as he is finishing a similar (owner financed) deal with a unit he lives in inside the complex.Is it possible for me to sell him a purchase option for say $1,000 for six months while I rent the unit to a renter of my choice?

Also whether you want to be in the downtown center city area near all of the Artsy fartsy galleries, clubs etc, or do you prefer the tourists area, or maybe living it up by the waterfront {there are many choice hot spots}.

I own rural acreage free and clear and my goal is to build my next home on it as soon as possible so staying in my current home is not my first choice.

Bringing in a reliable and highly recommended contractor along with the home inspector would be my choice.7.

I think you made the smart choice...if the tenant has a problem coming up with the entire deposit, most likely they will have a problem coming up with your rent every month.Best of luck!