Also do i need proof of funds for the offer to be accepted or is my EMD sufficient?

- Live in one side rent out the other) with a very strong down payment you can get the advantage of better downside protection and income.Make sure that you have enough in reserves so that major repairs and a vacancy coming off of major repairs won't sink you and that everyone sleeps well at night.When you are looking for renters do a complete credit & background check on all occupants 18 & over - no exceptions!

Would a seller finance note sufficiently protect the lender and give them the right to foreclose if necessary?

@Bryan Hancock & @Bryce Y.What makes you think there will be sufficient secondary market activity to support an exchange?

I feel I can sleep easier!

: learn enough that you're semi knowledgable in the field (BP ultimate beginners guide should be sufficient), I would listen to the podcasts whenever you're able to.

If there is sufficient equity, I am willing to help you. 

You have no risk of being foreclosed on.Then you have to decide if the rental income is sufficient, after you've brought the home up to rentable condition.A real estate attorney is good to have, but not necessary.

@Andre ClemonsIf you are making money while helping people and can sleep at night, you are doing the right thing

Only one is operational but has been sufficient as the building was less then 50% occupied.