talk to the dept of health first (records requirements etc), establish what upgrades/maintenance required, line up a reliable repair/handyman/type person, consult lawyer, and then make your offer, see if you can buy the land it's on via lot line adjustment (ideal scenario). a lot to be aware of, such as system upgrades or county code changes bringing in the requirement to add metered connections to an older small system, for just one example.Otherwise- owner doesn't want to manage, I doubt you really do either but could be wrong. 

Offer cash for keys to person but money is only after they leave and property is left in broom swept condition3.

The multifamily is a slightly different game to get them under contract.

While it can have an effect on yields and mortgage rates if it comes in higher or lower than expectations, it typically has a much smaller effect on yields and rates than the CPI report.Personal Consumption Expenditures (PCE)The Personal Consumption Expenditures (PCE) report is another measure of inflation.

This person should ideally be familiar with real estate investment strategies and flipping houses in particular.

Anyway, shadow that person as much and as often as you can so that you can learn the ins-and-outs on how to be successful.

Personally, I've bought plenty of real estate courses in the past.

Depending on income and credit there are always credit card, personal line of credit and personal loan options available out there

Take a little return (or work for free) while you get mentored and catapult yourself into the game. 

This year might not be the best year to go all in with an investment if the sole goal is cash flow or appreciation (not personal use).In a mature market such as the smokies, I think you can reasonably arrive at a fairly narrow occupancy rate.