After doing my due diligence I decided to schedule an appointment with Ryan.The first thing Ryan told me was, ¨you do not need any real estate experience, and do not worry about the money to fund the deals, I will teach you from no knowledge to closing a deal¨, so I decided to jump into my real estate journey.

Have a property for sale in Delaware (15 min from the beaches and outlets, close to two country clubs,etc).

I've read many discussion on this forum, but nothing really comes close to your own experience. 

The same holds true for investment properties as they do any loan, with regard to when you closing and not having to making a payment for a specific period of time.

If you're thinking in the Reno Tahoe, NV area you can check out this rent map: https://www.addressincome.com/data-center/reno-rent-mapLook at other factors in the neighborhoods, like close to trails, restaurants, college, or a cement plant.

As a side note: Your closing costs also seem low

@William Coet, there is a lot going on with this potential scenario and I want to second the other advice being given here -- tread very lightly with specific tax advice for specific transactions, especially with seller financing. 

If your rental is worth $2,000 a month, then you should charge close to that and the rent should cover your expenses. 

Are there any banks/lenders which would provide some incentives on closing cost and give good interest rates?

Here's what the quote covers:- Conversion of 2 bedroom, 1 bath main house to 3 bedroom, 2 bath (~1040 sf footprint)- Demolition of existing walls (existing dining room wall, wall between kitchen and living, bathroom closet)- Finished Shell (Reframing opening to living room and kitchen, shifting openings for bathroom/bedroom, new walls at bathroom and dining, level - Replace all aluminum windows with fiberglass windows and screens- Upsizing plumbing, and relocating fixture locations as necessary- Upgrading electrical panels- Assume heat pump and ductless mini-split for heating and cooling- An allowance for kitchen appliances including combination range, hood, dishwasher, microwave, refrigerator, and washer/dryer- An allowance for mid-grade plumbing and lighting fixtures (Delta, Kohler, or equivalent)- Mid-grade plumbing and lighting fixtures (Delta, Kohler, or equivalent)- Ikea cabinets or equivalent with solid surface countertops, includes island- Assume solar system to be installed on the house including battery storageFor the garage ADU, the garage would need to be demoed and rebuilt, but we would benefit from building within the setback since the garage is on the property lines.