Understand that if you go that route, although your payment is lower, you will have not paid down any of the principle balance.  

If you don’t feel comfortable forming your own team (someone to finds deals, PM, contractor, inspector, lender), then you may want to consider going the turnkey route for your first few ventures.

I would say do your best to find another buyer or try to link the buyer with a different route of payment.

There is also more potential for higher returns in short term rentals with a lot of the homes, which is why majority of investors go that route.

So, I am doing some research and see if it would make sense to go my route. 

@Ken LatchersWhether the business of StR arbitrage turned out good or bad; whether the decision was incorrect from the beginning or just a victim of an unlikely occurrence, I applaud the initiative and effort of those who were willing to take a risk in pursuit of creating a successful business and a better life’s for the,selves and their families.Many on this forum advised against the arbitrage route, and I believed that they had many valid points and may have been correct for most people, who went in undercapitalized and without realistic expectations.

Along the lines of some other advice, a less drastic route would be to have the seller would agree to delay the COE so you (and them) can get a better idea of how things shape up over the next several weeks, including April's rent.

Most local property managers don't really understand the medium-term rental market, so we'd use an REI investor buddy (who is also in the Army) for the next couple years if we went that route.  

I'm in Santa Clara but it looks like pre fab won't go into livable sq ft. calc, so this route is likely a no go for me.Will need to figure out how to build cheaper.

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).