hey lincoln, While seller financing is a strategy since it is owned outright, I am not fully aware of the details to determine if it really makes all that much sense with this particular property.

That makes sense to me as well.

Buy and hold rentals is what I'm thinking, but if a flip were to make sense, I'd be interested.

Once you know how much the gross income will be (represented as 100%), surely it does make sense to deduct every anticipated expense as a percentage of THAT figure?

You might have to find a small type catch all brokerage that dabbles in residential and small time commercial.These types of firms do residential and a few land sales and occasionally a small gas station or inherited type small building commercial.For the experts that only do one asset class the small deals like this do not make sense as they typically have a lot of (hair) on the deal meaning many issues to work through.

I'm a fan of renting to pets in houses and duplexes, and perhaps cats if it's an apartment with no common area (with a limit of one).

You could get some cash on a non-owner occupied property from a private lender, but chances are it will be too expensive to make sense.

We have not yet approved them as tenants as they want to know if we will consider rent to own before going further with the application process.It seems to me that at this price point it would make more sense to just buy the house instead of rent to own, so what am I missing?

"Everyone else is doing it" is of course NOT a magical recipe for "it makes sense," but it is something that should give you pause.

(since mortgage is not paid off i do not own the property therefor i cannot place property on section 8)Now i know what you are thinking, Decision 2 would be the best route to take, but unfortunately if i do that, i am more likely to have problems renting the property because of these common issues...1.