And look at the fine print on the loans, a point or so is a fair amount of money over 1M.

Yes you can do it, you just need to make sure that you dont break any licensing laws or you can get fined for practicing real estate sales without a license.

To be honest, this may be a tiny bit above what I thought the house was worth, but if overpaying by a couple thousand dollars to acquire a new rental was what it took, then I was fine with it, as he was going to be financing the deal for me.

Your intentions are very clear, you are off to a fine beginning.

Vacancy, repairs, and management look fine/average.

Would like to fine some single family house to rent.

If they are still working and have enough lead time (3 months given the current situation), it should be fine.

The couple you mention sounds like they could be just fine.

Some turn out fine..........others not so much.

Leverage is fine for some, but I want to stay in this thing for a long time and want to be sure my strategy works in the good times and in bad.