Thanks Travis Paez In the scenarios you outline of two higher dollar options with some form of seller financing, does that rely on the initial purchase being cash?

It is also important to stick to the requirements outlined in your lease agreement, as this will help prevent any misunderstandings or disputes that may arise.

Also, ensure your lease agreement complies with local and state laws by clearly outlining tenant responsibilities, rent payment terms, late fees, and maintenance procedure and reach out to property management companies if you're not aiming to self manage your property. 

You need a real lease - and an Addendum which outlines in plain language what the rules of the property are. 

To ensure success, I would recommend outlining your goals and having a clear, long-term plan in mind. 

Outline pet policy, if you have a preference.  

Make sure they are listed under a section in your lease that clearly outlines what appliances are supplied with the rental property. 

Call me greedy, but I love keeping those deposits and writing that 30 day letter is so easy without having to outline the reasons I'm keeping it.:) 

And vice versa, if the seller has spoken with a Realtor® and prefers to offload the property quickly and take a hit in profit, avoiding all that might come with being on the open market as outlined by @Bruce Lynn, the Realtor® can pass that along to the wholesaler.  

They sound lower than the 3BR voucher amounts outlined above, but the properties are still cash flowing and the CAP rates are very solid.