@Kimberly Kelly- thanks - welcome ...unless  you plan to use cash for your plans - I recommend getting  your financing outlined and in place  ...get pre approved for whatever  scenario you are  considering in order to  * get organized  * educated and  prepared ...good luck 

It may outline actions that can lead to eviction.

Screen potential tenants carefully to ensure that they are reliable and responsible.Set up rental agreements: Create clear rental agreements that outline the terms of the lease.

Reduced Liability: By having a pet addendum, you can outline specific guidelines for pet behaviors, including who is responsible for any damage or injuries caused by the pet.

I think outlining that will help get more people excited about working together.

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.