You want to be the reference (in terms of knowledge)- Understand how to do the financial modeling of this type of asset or if you outsource, make sure that person is available when you pitch. 

I will appreciate all the input I can get especially a reasonable person to do the logistics including zoning etc.

Sorry I didn't get back on here soon enough, life gets busy! 

I took out a personal loan. 32k.

The key to this strategy is the person you're selling to has to put up a significant downpayment, so you can start the process of finding your next investment

@Samuel Olivas From personal experience you can't have your cake and eat it too. 

I personally love the area.

I personally do a cost seg on every single property I buy (This is not tax or legal advice). 

If  your rule is not to rent to anyone with a prior eviction, this person would fall under that rule.  

But with the vacation rental, your debt would be paid off, with a princely income for the rest of your life.