It is the ability to provide our extended stay tenants with the exact terms they are seeking combined with the fun I have hosting STR guests that drives the decision.

Since the seller told you no rent was paid for Oct, I would suggest giving notice to the tenant that you are the new owner, were told that Oct rent was not paid, and give them a bill for the prorated Oct amount from the day you closed to the end of the month, due an payable immediately. 

The low downpayment + ability to buy multiple doors, allows you scale easier for as long as you are willing to sacrifice. 

With the ability of purchasing commercials and real state What licensing or permit needed to start?

You should have guest accounts that give them access to the wifi but not the ability to change the network name, password or wireless security.

This could have been placed under either heading because there are benefits to both - but for the Buyer, there are verified records of payments made, tax reports, the ability to pay using ACH, generating payoff statements, and more...2.

A two- or three-unit property for $700k to $1.2mm may be more obtainable.And to address your concerns about paying the mortgage if you don't have tenants: When underwriting and analyzing a property using Bigger Pockets calculators or other analysis tools you have the ability to include vacancy in your analysis.

For that the lender will look at the income producing ability of the property with less weight on your income and debt-to-income.

Agree very much, with real estate you can have more direct control on your investment, there is an awesome ability to leverage to scale and grow more quickly, and you get some great tax and income benefits along the way

Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes.