I like to have my money leveraged because I control more assets that way.

Back I n the early 80's I use to fly down to Lafayette as a Funding Control Officer that worked in Addison for a Savings and Loan that got taken over by the federal government in 1987.  

They may be better in the future but with summer, if things are off, give notice so new tenants can be in by September.Month to month is the beauty, you have control and start fresh with giving current tenant your terms and be firm from the start.

You would be acting on your own behalf to protect and progress your own interests.But, make sure that your lease agreement with the owner/seller acknowledges and approves you as the sandwich lease investor, to be allowed to sublease and market the property under your control during your lease/option term. 

My financial situation is good, meaning I have my financials under control and I save over $500 monthly but I don't have a lot saved as I'm an immigrant in this country and it took me few years to bring everything under control.

I'm an immigrant in this country and it took me few years to bring my life under control as I used to have.

Lue C.If you have self-employment activity, you may want to consider a Solo 401k instead of an IRA.Contributions limits are roughly 10x higher, there is no custodial requirement for the 401k, you can take participant loans, you don't need the additional expense and administration of an LLC to have checkbook control, there is a built in-Roth component, a spouse can participate, there are additional tax benefits (UDFI exemption), there is generally greater privacy, and the plans are often quicker to setup and cost less money over time especially compared to most IRA LLCs.

I've heard there is now FHA 0% down for 104% of appraised value ... not saying I would necessarily make a blanket suggestion for this product, but will say that where there is a will there's a way, and you retain control over your investment locally while you don't out of state, which dramatically jacks up your risk out of state, especially for a newbie without scale or experience.

Besides that, I'm kind of a control freak so I can't imagine not being able to easily check up on things.

The high interest rates we had in the 80's resulted from efforts to control inflation.