Nevada is landlord friendly, low property taxes, and close to CA.

They typically do not charge to assess the property since they know they will get the job when we close. 

Now I am closing on my 2nd prop in the same area and will have 3 total by the summer all CF positive in a great area with appreciation.

Account Closed, to piggyback off Emma, you'll 100% want their parents to co-sign the lease. 

You can redeem the ground rent, buy back the land, for a small fee at closing.

Seller finance 400kIs low you need 500k plus cost to close. 500k 20% I buy a 2.5M property...Capital need it is to high, your cash on cash return is looking to low. 

Try to stay close to home if you can.

Closings with a loan also tend to take two months or so so you may want to put in your offer that notice must be given prior to going to contract.

Once the rough-in, electrical, HVAC and plumbing are inspected and approved and it's time to close up the walls I may farm out finishing work to others. 

I typically opted for roughly 3 draws per deal, just to limit draw costs.Also, all of my lenders charged me interest on the full loan balance at closing, even though I hadn't drawn the whole loan (which annoyed me, but I get their perspective).So really, in my experience, I didn't find any to be "better or worse" they all seemed to have their own trade offs, i.e. more general accounting was easier for me, but higher draw cost.