Thank you @Jeremy Pace

I have every intention of completing my MBA over the next 5 years or so on a part time nights and weekends basis, which my new employer will pay for 100%.I am in the middle of a divorce right now. 

I am thinking of finding a property for them and ask about owner financing as a lease with an option to buy and lease it to them and then sell it to them after a year, me being the middle man.

Then told that since the seller's middle credit score is 640, she was required to complete a loan modification (they claimed anything over 620 requires a variance).

It was a big decision for her and she was in the middle of building a new home for herself and getting ready to move.Shane followed up in January, and she was ready to talk again.  

@Jeremy Pace thank you for the tag!

Buy and hold is not going to generate chunks of cash fast.If their goal is create passive income, then the next question becomes - do they have the cash reserves to grow a portfolio at the pace they're looking for.

If you really want to do a quasi owner finance for your friend to pay off the property within 3 - 4 years, you could simply set a monthly rent that is high enough to accomplish that goal, do a 6-month purchase contract and reduce the purchase price each time by whatever he's paid, with a handshake that you would adjust the actual purchase price, if he ever decided to finance it in the middle of a contract term.  

What I like about lower/middle income rental properties is that they are recession and boom proof.  

Here is the situation -I am currently in the middle of 5 properties (flip in progress or under contract - 3 are closing between 6/30-7/2 and the last closes 7/14) and one of our investors backed out of funding  a deal.