Here is one that is currently for sale: http://www.zillow.com/homedetails/376-E-Varsity-Ln-Bloomington-IN-47408/94516448_zpid/ I figure it will be easy to rent near campus.

Buyers for median priced and below properties selling with owner financing and with a reasonable down payment are VERY, VERY EASY to come by - craigslist - bandits signs - all day long.

@Ryan Parks setting up an LLC is rather easy, and depending on the state, you could do it yourself (possibly online).

Playing up the fast and easy aspects are the only real play you have.Did this particular person indicate that these friends and family live in the same area?

Condos can be easy rentals, but you can also get more complaints from neighbor noise, parking, and insurance issues (say some neighbor above floods your condo if their water heater leaks).

Have a good calendar set up that is easy to use and update.

Because of this, it's easy to get caught in a tough deal in a rising market.As an investor, you always have options.

There are many ways to get started in real estate, but none of them are easy, especially if you do not have the capital.

Or could it be easy money for the broker, since the salesperson is independent, but will still split the sales commission?

Thanks @Curt Smith Hi @Ted Chan I'd conserve cash and look to buy with as little cash as possible on sub2.Here is a primer on Sub2 http://www.biggerpockets.com/blogs/3/blog_posts/32276-sub2-training---01---introduction Making up back payments and learning rights of redemption in Oregon is not easy.