The lease (with the current college students) was just renewed through their 2025 school year.I'm trying to figure out how to make this happen with little-to-no money down, as I have other 'irons in the fire' at the moment.I'm planning to offer $400-450k for the home, and am trying to structure something where a conventional lender would loan an amount that would be covered by the current rental rate (lets just say $300-350k)...   ...then, anything outside of that amount, would be carried by the Seller (for a short while)...   ...Seller financed with a ballon in 5-years?  

I've been looking primarily at deals that offer owner financing or are otherwise open to a creative deal structure.

As a first-time rental property investor, I am currently in the process of evaluating a potential investment opportunity and seeking guidance on an aspect of property layout.

it makes sense, it's long time process. i will keep looking. 

That book led me to The Book on Flipping Houses by J Scott, and I am now in the process of reading The Art of the Slow Flip by Scott Jelinek.

I've got a few mill in rental properties that I've BRRRR'd here in a Oregon, but most of acquisitions have been creative deal structure or joint ventures when we need to raise capital to get to a 50% LTV for maximized cash flow.

Most HOA communities in affluent areas such as Chastain Park are strict regarding lease structure.

On the issue of Airbnb laws in Colorado ...In every instance where a Colorado city or county had a permitting process for investment short-term rentals and then changed and passed an ordinance prohibiting non-owner occupied STRs, the existing STR permit-holders were grandfathered in. 

I have questions regarding the DSCR loan process and the associated closing cost.

That said, if the property is of serious interest to you, to the point of potentially writing a LOI, it's worth your time and work with a local commercial broker to walk you through the process.