Like previously mentioned a joint-venture would be a good idea, you have some money saved up that you could bring to the table and would help you get into a property sooner (although not 100% owner).

Again, nothing new but no mention of these issues and no seller disclosures so far. 

She has no savings and no investments (yes, I know, we are working on fixing that) but fortunately she has no student loan debt or anything besides her car and credit card payments mentioned above.Now, I'm aware of some on the low and no down payment options for her (FHA, USDA, I'm almost positive she can't get a VA loan but I'll double check), but the sticking point would be the monthly payments.

You didn't mention if you were receiving cash out or not but the "Loan to Value" is higher on a SFH and the rate is lower. 

Been doing a fair bit of research over the last few days and haven't seen much mention of notes and taxes.

Not to mention points on the mortgage if you're doing a private lender (though I don't know any private lender giving 7% at a 30 year term to someone with 0 experience, and I'm also not sure what the point of splitting the difference between FHA and private lender is...you're either doing one or the other....)I'd put the cash on cash closer to 4-5% on this.

Doing a 1031 was mentioned, but isn't applicable because this is your residence at the moment.If you paid $60K+$8200 improvements + purchase closing of $5K your basis is $73.2K. 

That being said, it is worth mentioning that if you provide a value or service, you should be compensated, regardless of the income class.

:) In all seriousness, I value everything you mentioned in your reply.

There seems to be only one side of the real story that's being told.I won't even mention the difference in how many evictions he did while I had ZERO evictions during this time.