. #2 & 3 are simply bad players in real estate, the low life types. #4 usually are dealing with sophisticated sellers, buying, say 20 homes at a time, they will line the transactions up and most likely have a real estate license. 

Buying from investors who 'self made' (meaning not prepared by an attorney) notes where they sold a property on terms to an owner occupant buyer ... well, that's a space I'll leave to skilled players like @Dion DePaoli For REITs, a private REIT for me is very unattractive.

I also think that because we are such small players, and that because this is our first purchase, we need to be very, very careful.

Lot's of people with some cash would love a 6%-10% return right now when CD rates are so low.

Are you a community player or a community taker?

Can't get that out of a CD!

Really dig into your market and find out who all the players are.Now, let me ask you, have you ever considered marketing for your own deals?

For reinvesting, given you're not a fan of the stock market and are looking for more conservative options with $50k liquidity available within 18 months, you might consider CDs or high-yield savings accounts for the downpayment (which I wouldn't have suggested a few years back, but now, some 1-year CD payouts are commensurate with iBonds [5.27% through April 2024] and with fewer restrictions).

Here's a different angle -- invest in yourself.Acquire in-demand skills/education (the medical field comes to mind) and you will always have a good-paying job to fund your endeavors.Live frugally and bank every penny you can for a few years and suddenly you will be a real player, with other people approaching you with deals.You're young.

Much better than CD's, but not exactly stellar for a risky, high-hassle real estate deal.Both calculations are saying this is an OK, but not great, deal at the price you're wanting to pay.I don't doubt you can get financing below 6%, but I do doubt you can get it for 10% down.