From there, I'd recommend reaching out to some of the smaller property management companies in your area.

Are you looking to actively be involved in the operation and management of the investment?

Real estate can be an excellent investment, but ensuring you can comfortably manage the payments is vital, even if you encounter negative cash flow periods.

If you structure the deal where you are a non-managing member or limited partner with no say in operations, you will be deemed passive and your income will be passive income.

I would add that you want to get contact info of there previous landlords or property managers if they have any.

That might give you some experience running a house, hearing what people are willing to pay for rent, management issues and all the other things involved. 

Hi all- I’m in a unique / fortunate situation where I’ve found some older homeowners looking to remove the burden of managing a rental property that are willing to seller finance their property to me at $0 down and 1% interest on a 30-year note, no balloon. 

My property manager advised due to decreased university enrollment these homes are slow to rent over the last few years.  

You want to work with a turnkey company that owns or has property management vertically integrated with their business.

You should seriously consider hiring a professional to manage your property.