I'd let the funds season in my account and then use those funds as a cash down payment for commercial loans and conventional multi-families properties.

The only way he will obtain a loan is to get financing from friends and family.

I am actually looking in Decatur as I'm seeing some single family homes in the 200k range, even some fixed uppers slightly below.

Try and create a kinda protected, intimate setting for possible family or close friend or really studious students or hospital interns.

We're hoping to do seller financing when we buy our first rental investment property, so I'll be hand-writing letters to long-time owners of rental properties (mostly single family or small multi-family).

Investment Info:Single-family residence buy & hold investment.

Only future will tell if it was a right investment or not.I am Rao a newbie investor with small rental portfolio of single family homes in DFW area.

I am exploring Carbondale IL for multi family Investment and lookin for some feedback. 

You could do that for a period of time and get your mortgage paid off twice as fast, if that's what you wanted to do, then use a HELOC (or some other form of loan of your choosing) to renovate it into a SFH...Obviously I don't know what your family's needs are but I'd be interested in hearing if you'd considered this, if you don't mind? 

I've actually heard of families owning dealerships and then buying mobile home parks (instead of the other way around).