Alternatively, any suggestions on how to proceed in this situation?

I am thinking about putting a sign on my truck to say I buy  houses.

Here are some details of property:- not listed, owner called me off direct mail campaign- 260 units in 5 buildings no climate control and 70% occupied (unverified)- owner has price in head of $1,350,000, probably from a broker- owner brought up seller financing in talks- I should receive financials this week from accountant- property is free and clear- agent for Penske truck rental - only one in 10 mile radius - paved, fenced, and has security system (unverified)- house/office in front of facility with 2 employees - 1 is live in managerThanks in advance for your input. 

Glad when they finally left, i just paid for the damages as it wasnt worth my time or money to pursue them for damages.One was a childless couple - no kids, constantly getting deployed in alternating fashion, sometimes they would both be deployed at the same time...which is fine, however they would NEVER ever notify me of their extended absences like the lease specified and during the winter I constantly had to check to make sure they were home or if not that the heat was on or during the summer the AC was on at least a setting somewhere in the low 80's to inhibit mold growth since we have a humid environment.... this couple also bought one dog, then a second if I recall and both are breeds I'd never allow in a rental and they kept them hidden from me every time I was around.  

Greetings.I am a technology consultant who is interested in building an alternate income.  

He knows im into real estate and was asking if I could present him with alternatives.  

Do I really need alternative exit strategies with buy and hold?  

Your might want to consider land-contract as an alternative to rentals if the rentals are not allowed.  

It all depends on your own personal level of productiveness, and what you could be doing (alternatively) with that time. 

3.5% FHA is an alternative if 5% does not work out.