Sounds like you are well set up for your investing journey with strong credit and a good W-2 job. 

Yes sounds like a form of seller financing being provided for a fix and flip loan 

Hi Josh, It's easy to get into analysis paralysis mode.

However I will say financing 95% at today's high interest rates with 33% of the units not generating income sounds like a tough hurdle to overcome in this market, even if you're pulling in strong W2 income.

It's a very easy and quick form to complete and if they can't find their EIN number, then you don't want to work with them anyway.

It's easy to get licensed and they are reasonable with enforcement.

It sounds great, but if you're using conventional financing, your new DTI = (Old debts of $430 + plus new payments of $800) / ($1000 old income + $1000 new rent) = $1230 / $2000 = 61.5%, You just went from qualifying to not qualifying.

I've also appreciated you reading through your insights on other posts in the forum.Scenario 1 sounds like the right first move if I can find a place in my budget. 

I hope it's quick and easy to get that information to them.

It's very easy to make the mistake of just looking at spreadsheets and basing your decision on projections.