I'd love to have one close to home my family and I could use a few times a year.

I am close to the owner so I can discuss options.These are details and some rough numbers: - Location: Vienna , VA - No mortgage on house (free and clear)- Purchased year: Around 1980- Purchased price: around $50,000- Type: 3 bed - 2 1/2 bath single family- Market price: $920K (not appraised yet but numbers from Zillow)- Market rent : $3,400/mo (from BP Rent estimator)- Insurance $2,000 /yr- Taxes $9,300 /yr- Management $3,260/yr (I do not want to manage )- Repairs: TBDThe numbers do not work with conventional financing (20% down, 7% interest, 30 yr) so I want to think of creative financing ways.

You will not get lower than those options unless you claim it to be a primary residence which would not be ... legal.

Nevada has low taxes and landlord friendly with strong appreciation and close to CA.

Many sophisticated Sellers will want to try and understand which Buyer possesses the highest probability to close and materials like this can certainly assist.  

@Mary ArentsNo question higher mortgage rates and home prices have lowered returns these last few years.

It is a tear down opportunity.asking Price : 400ksqft: 2,954Built in: 1948Arv: 775k to 880k I would study the area more and push something more high density like condos or a 4 unit and lower the risk through multifamily density and rezoning.

@Jose ChavezAs mentioned notes are very standard documents that your attorney should draft.A PG is another separate document just like there also should be a loan agreement if to a LLC and some security instrumentWe use an attorney to always draft these and charge the costs to the borrower as part of the closing costs

Due to my own travels, I have not achieved a written log of 7+ consecutive days, but am getting close to documenting 30 days within 90 day period. 

The mortgage rate can always be refinanced when the rates drop back down which they are very close and will start to drop this year.