I'm sure you'd like them to keep paying rent after their initial payment is used up, right?

You can use rent to offset that debt right away. 

Being a newbie at this, I have to start somewhere and get my feet wet, right?

Hi Jayme, you found the right place for information! 

We don't want a lot of turnover right away and since we're living there we want to try and keep the peace.

It's important to me to find the right person who is willing to work hands-on and side-by-side with me on a project.

@Sharon WhitworthI believe They have closed down their older funds and probably whatever left they will let go to tax sale.

Yea overall I’m not 100% convinced on either decision right now tbh.

1. you're right in the new ones from developers don't produce any cashflow. you might want to look at the secondary market to get better yields as the properties are already built and can cashflow right away. also easier to see comparable rents in the same development. check bank repos, distressed sellers and the like. you might also want to get a parking slot for added income as they can be leased out separately. it's also quite difficult to sell without one should you decide down the road. developers usually have an in-house leasing team to handle property management which we use for some of our properties.  

At the same time it's probably best to be buying right now to hedge against inflation?