For bang for the buck, I would do LVP and maybe do a low cost/DIY refurbishment of the kitchen (paint?)

The questions you ask require more than a simple post can answer. 

Let me ask a simple question.

I'm gaining traction with simple mailers in certain counties in the Midwest that are not way over priced and provide double digit returns.

There are an unlimited number of questions that need to be reviewed, for the simple fact that immediate family will be your tenant.

But I'm not saying you shouldn't brush up on a good presentation because that's where you'll find a lot of clients, DIY landlords right in your backyard.

The benefit of any line of credit over a simple loan is that you only pay interest on what you've drawn, plus the simplicity of only drafting one loan rather than doing it over and over again.Where I'm struggling is how to apply this to a private lender utilizing something like their IRA.

Simple answer. 

Purchase price: $22,000 Cash invested: $5,000 Bought and made simple repairs to cash flowing property.

The previous owner was a DIY guy--not my jam. - Trash Services:  The previous owner made the tenants take their own trash to the landfill.