A preliminary Team includes Attornies, real estate Agents, CPA's (or accountants), Inspectors, General Contractors, and Handymen.Always remember to do a math analysis and try to look at prospective properties before you make an offer or at least have a clause in the sales contract that allows you the time (about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you very much.  

Strange it hasn't gone thru a tax deed sale.

Prove that you can duplicate or at least 1/2 supplement your income by the REI side hustle for at least a year, maybe 2 or 3.Solid income from your JOB allows you to get financed by traditional lending institutions and gives you power in the form of Choices.Why quit your job?  

A home went for sale in June 2016 for $799,000 in San Diego on Island ave.

    - Regarding having the tenants sign new/updated leases = The existing leases remain in effect after the sale. 

Basically, its an auction type of sale, the winning bidder has to have funds right then in cashier checks.

The two gentlemen behind the sale of the 535,000 acre Waggoner Ranch in north west Texas (near Vernon) share part of their story at this podcast. https://www.recenter.tamu.edu/news/podcasts/?

Vacancy can be 0-25% depending on turn over and what month they move out.Maintenance depends a bit on age of home but I would use about 0.1% to 0.2% per monthCap Ex depends on traditional (.5% a month) or private money (1%)Sales Expenses:  6-8% for closing and realtor plus about 2-4% for holding costs

Their purchasing power is expected to increase rapidly, with an expected $1.4 trillion in disposable income by the year 2020 (socialmediatoday.com).

I believe that many local realtor association purchase and sale agreement forms include some seller financing terms in their financing sections.