If you find a property where the seller doesn't carry a mortgage, it is a great way for the seller to continue to settle the closing costs with a (sizable down payment) while still obtain income for 6 months to a year by holding the note for the borrow. 

I am assuming that this means I can deduct interest paid to original lender and report the interest I received from buyer as income like Ashish mentioned? 

They can really throw off your numbers if you are not familiar with a citys transfer tax, and fees.

Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

Lower property taxes and landlord friendly. 

We'd even be happy to move them into one of our (future) properties and just let them keep all/most of their rent income as free cashflow. 

I have lived in Hawaii for many years but now that I’m a traveling healthcare provider, I am off island more often than not.When I’m not on contract I would love to have a place to return to and when I’m away I would love to rent it out for some additional income.

That will give you income to invest.