Upon speaking to the realtor, he indicated seller financing was a possibility and the owner was liquidating several properties in the area and moving away.

Hopefully you don’t have a problem around the entire house, which I have had before, and my only regret was not peeling it away all at once to manage.I’m happy to help talk through this stuff with you if you need to speak with somebody on the phone that can at least help you think through your choices.

@Chris Tedeschi For the loan, you likely need to speak to a bank that specializes in commercial real estate lending.

@Noah McPherson, I'd try to get a 24 month loan from the current lender you're speaking with, or find one that will do a longer loan term. 

Talk to a lender, but generally speaking, they won't consider the rental income until it's on your taxes for 2 years.

I've had a cabin burn to the ground, so speaking from experience, it does matter who your insurer is, as well as your agent.

If you are not purchasing using all-cash, speak with a lender to help you determine your price point and best investment strategy.Once you've got a better idea as to what type of deal you'll be pursuing & how it will be financed, connect with a local investor-friendly Realtor who can help you navigate the market.Another route that newer investors look into is to begin as a wholesaler or working with investors to help them find deals.Best of luck to you moving forward!

But if it's just a house for you to live in, not an investment, then financially speaking you can't do better than living for free since the home you live in generally tends to be a wash or lose money when you factor in everything - maintenance, furnishing, repairs, etc. 

Life is too full of uncertainty and shades of grey to speak in absolutes. 

I can't speak to what the industry standard is, but for my Georgia portfolio I receive the funds on the 23rd of each month and I am in the process of closing on a duplex in Ohio and that property management company pays out between the 15th and 22nd of each month.