And the ability to talk to someone past the transaction as you contemplate other moves is quite important. 

If they want to make arrangements to be home they can do that.

But was hopeful to find people, either short-term renters or vacationers, to "fill in the gap".Unfortunately, I was a little too late to the game for MG and wasn't able to arrange furniture. 

Finalize whatever arrangement you will be using for construction funding (bank cash, etc.)8.

I then arranged to have a full inspection done and I failed.

Arrange for an emergency caretaker for the pet.12.

What is the living and rental arrangement?

As a millennial and recent college grad and wanting to begin building a portfolio of properties while working a full time job, a question I constantly find myself contemplating is how to plan for an early retirement and build the best ROI on both my money and time. 

Assuming that the seller financing arrangement makes financial sense and I pay the owner $1,000 per month (this is for example purposes only) how do I handle the rent payments coming in from the current tenant?

Yes, a bonafide debt arrangement is required.