Regardless of your plans, get the tenants to sign estoppel letters verifying their security deposit, rent amount, etc.

Invest in Wichita in certain areas and get an insane amount of cash flow but potentially little appreciation depending on what part of the city you are investing in.

With a larger amount of mods you may realize some economies of scale where you will see a cost savings.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

@Kevan Hodges You write your fee (the amount you're charging the Investor/Buyer) in the Buyers Contract Agreement. 

Second, they are only charging interest on the amount that was actually drawn.

If you buy a home from a homeowner who is living in the home, is there a standard amount of time for them to be allowed to live there before vacating, while they look for another place to live and move there?

Although it was such a good deal, we tied up a significant amount of our own money to get it off the ground.