In a deal like this, you would be looking at a subject 2 to take over his existing mortgage and some payment plan to him for his equity.

If you are buying an existing rental ask yourself this "why are they selling"?  

It seems a split condenser would make the most sense because we don’t have existing ductwork.

Here is an interactive map that I feel gives some insight: https://www.nytimes.com/intera...I do believe that in 20-30 years, Midwest markets like Cleveland, Detroit and Pittsburgh will be even more desirable given their proximity to fresh water and they all have existing infrastructure to support larger populations. 

Those PMs definitely exist.

Zoning existing (call planning desk). 

I have also found that it's important to have them sign estoppel certificates before closing, regardless of property type or size; especially if the owner supposedly doesn't have leases.These days I'm happy to walk if an owner is going out of their way to not let me talk to tenants or get estoppel certs/existing leases.

The only downsides of this are 1] if your existing income can't cover the new, higher, payment, you will have to eat some of your see corn every month, but with rates the way they are today that's a relatively low cost. 2] A more pressing risk is that all that cash in the bank will burn a hole in your pocket and you'll feel pressure to buy a sub par rental just to get your money in the game. 

Step by step courses exist, and some even on the site I think, but I wouldn't say the site pushes any specific strategy. 

(Having a higher interest rate makes it easier since the yield will be higher.)Hypothecating loans seems to be that unicorn that used to exist in the 80s & 90s but is mostly a myth that gets floated around.