From my experience ARMs typically adjust annually or semiannually so you get a fixed rate (often lower than 15 or 30 fixed) for that period of time.

Hello, I do not know of any but there are really only a couple documents you need on a typical buy or sell.

Is this simply an investment with capital gains?

Gaining trust in your ability to manage someone's money is paramount, and you don't appear to have a track record so it could be a difficult sell.  

Rental Agreement + Option to Purchase AgreementRental Agreement: a typical lease agreement with the total amount of rentOption to Purchase Agreement: this includes all the terms of the Lease Option such as Final Purchase Price, NROC (see below for more details), and how much of the rent will be credited back as rent credits (I typically charge above market rents and use that extra amount as rent credits).I have the Tenant-Buyer sign both of these docs and pay me the Non-Refundable Option Consideration (NROC).

What are typical ROI's on single family homes in B- or better areas in Fayetteville?

So if the property has increased in value then you may be triggering capital gains.  

Typically, I look for properties that have some value add play and can be obtained at a 7-12 percent cap rate. 

So if the purchase price is 950K, then that works out to roughly 17K per unit; and if the purchase price is 850K, then that works out to just over 15K per unit.Per unit prices like that usually indicate that the location might not be so hot and the typical rent will be low.

Thank you All - it's more of a traditional deal ie. going the route of a typical investment that will cashflow just a little in our market (MA) with 25% down - for us it appears to be a good long term investment if we had the 25%.This particular one doesn't need rehab so no BRRR strategy here.I'm curious if there are any other strategies that could be used to paying back a private money / hard money lender after say 6 months with this type of scenario?