I had my realtor go to the property in person(no one was home)  and she also stuck a written notice on the door which stated that the tenant needs to call me otherwise the deposit will not be returned.

Nice to see so many in this area.

Your guys' agent should have slapped him around a little and nicely informed him that he's nuts.

Given the high interest and the purchase price isn't low, the cash flow won't be as nice as my other rentals or other options in a different neighborhood. 

Borrowing cash from another source does create a lot of risk so make sure to stick to your numbers and make the deal happen where you minimize that risk.Another option perhaps not mentioned is a wrap-style deal subject to or seller financing.

A nice but rental quality unit gets 1500-1650 regularly in that area depending on the size and finishes.

Everyone can invest in real estate in their own style and be successful at it.

It's a different style of platform than AirBnB (love them) or Vrbo (indifferent), but we can source a lot of good leads from FF.You may already know this, so I am responding to anyone who may not know about the nuances of FF.

It also has a nice loft with ceiling that's high enough that you don't have to hunch over to walk around.

This should be written in the lease and discussed prior to occupancy.