If you go in a direction like this, I highly recommend that the Option to Purchase is recorded (clouding title) and that all payments are made through an independent 3rd party escrow service to manage the contract. 

Let's see how we can all help get you going in the right direction!

This location is A+, but you go 15 miles in any direction and it's a very different story.  

You will find that those states without sales taxes have relatively high property taxes (regressive) which are impossible to avoid as one either pays them directly or as a component of rent. 

It works out really well because I have 4 tenants on the lease and they each pay their own portion to me directly.

@Caleb Heimsoth, this was not directed at you at all.

If you can direct me to any sites for this information that would be helpful too. 

I haven't applied for any loan/mortgage since I put a freeze on my credit. 

Both lenders know I will be applying for conventional loan.

Leave a comment below and I will PM you directly so we can get added on a community group email!