If not, I would advise researching this strategy.

That will start to help form your strategy.  

Most of my client's combine doing short term and mid term rental strategies with their Arizona properties. 

I put together an investor package that has info on Cleveland markets and different strategies.

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

What financing strategy would be most effective?

We're open to other strategies, but believe that sounds the most ideal so far. 

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

I’ve read in books of people getting past having to live in the property they own so they can rent all units year one of ownership(living on the property with an rv). Are there other more creative ways to start cash f...

Both Lifestyles' and Brad's training was/is excellent.