Andrea,, I would suggest you find a very good HML and let them place your first deals.. your knowledge base based on your questions dictates you should have some mentoring first then try your own.

A conventional loan is just a standard loan like you're getting to purchase the rental.The Executory contract sounds like your best bet based on your goals.  

And also based on my experience, podcasts done by Josh and Brandon helps a lot on seeing obstacles, mistakes encountered by other investors then solution how they get around with it.

Consequently, criminal records-based barriers to housing are likely to have a disproportionate impact on minority home seekers.  

You can get on there are find some credible contractors in Hampton Roads.I'm an Electrical Contractor based out of Hampton, Virginia and have several contractors I work with if you need help with your projects.

It also allows you to calculate to the dime your debt service costs based on your estimated hold time.Building buyers lists as a wholesaler is also portent but keep in mind bigger dies not mean better.

Buy at a great price + location + good numbersRentals don't have to be rocket science.Figure rental rate based on like kind rented properties near by.Subtract: taxes, insurance, repair % (7.5%, but varies based on prop condition), vacancy (2 months), capex (5%, but varies based on prop condition/age), pm if using (8-10%).

Explain him benefit of owner finance based on his tax structure, since how long he own and what is his plan (Cash, 1031 exchange etc...)What are some questions that I should ask the seller during our meeting?

Our C area properties are near military bases (navy) and nearly every renter is navy or works on the base.  

Cost will be what @Marc W. said and this is based on level of finishes you want as well.