In my estimation, there are two potential paths.1) You can use Cash (not paying or paying minimal to borrow on HELOC or private $) and go the Weekend Warrior route.

Traditional financing with rehab cost being provided by private capital.

You need a good source for local landlord tenant laws, a  reserve account for the unexpected, setup a payment tracking system, find a handyman, set expectations with your tenant about what constitutes a valid emergency, have the tenants sign a "walk through" list with photos of the condition of the house, make sure they have renter's insurance, 

@Hadi Babaei Is this a private development...with HOA?...

Public or private utilities?

Photos in the comments if I figure out how to insert them. 

That photo shows the landlord is not doing what he is supposed to do.

I held a private deed of trust (5 years, balloon payment) in a friendly transaction but it was all properly recorded, etc..

Send me a private message to exchange information.

The deal was brought to me with the opportunity of being a private money lender on from an investment group out of Nashville.