The principles almost always hold true, you just hove to decide how it applies to your new rental!

(study the art of word pictures - many years ago I worked for the Dale Carnegie organization - they talked about the value of word pictures - how to put your prospect in that picture - showing him using and enjoying and benefiting from your proposal)  Try it.I like to show sellers that even if they are not getting the up-front cash they expect, the owner financed mortgage and payments they are receiving don’t have to be passive – once the seller has trust in your seller financing proposal - reach your goals is possible - (ALWAYS PUT IT IN WRITING -don’t expect a verbal yes – melt everything down to writing and knowledge of answering seller’s objections – this is a crucial moment in your negotiations. – Take your time.

@Philip Hy I certainly have no objections.

It is always best to do that - it's more real.As for price - thoroughly inspect the properties - look for every negative you can find - take pictures - take your time - seller should be with you as you do that - get him to invest the time with you.Let seller know that it is your objective to earn a reason profit. 

The solution there is quite simple; include "access to a no overlays 30YF mortgage product" in your "must have" list when shopping for a REI friendly lender local to you that will be a good match to support your goals and objectives. 

@Alex FreeloveArms length is when you're complete strangers and have no business interests (like employer/employee).Non-arms length is like buying from a family member or someone a business interest.Non-arms length sales below market value can be scrutinized by the IRS for equity gift tax by the seller.On the opposite end of the spectrum, non-arms length transactions are also an issue if the seller is underwater on the mortgage.FHA also has some LTV limitations of 85 percent maximum for identity-of-interest transactions on principle residences.Friend to friend is probably a non issue,  but it could come up.

I recommend you find someone that you trust to bounce ideas off of and to give you OBJECTIVE advice.

Please see “Investment Objectives and Strategy” for more details.So one would think that they'd take more risk to make sure they're swinging for higher returns in the event they're behind a bit.  

Anyone with experience in the Storrs, Mansfield, Coventry, or Willimantic area with knowledge of the local market and principles of real estate investment would be very helpful.

AVOID the shinny object syndrome!