Having done a variety of RE investments, notes is my favorite.

Note I believe it's only available in some markets. 

On a side note - I used to be W2 working in IT with a very unfulfilling job.

Sounds logical and well thought out.On a side note, buying a (replacement) property now that costs $200k more than you paid for your existing property is the same as keeping your existing property.

LOL.This is something I would recommend every REI do before they buy into a market for a rental(s):1 - Find out the day the court is doing evictions (usually it's an all day thing...and the same day(s) every week/month.2 - Clear your schedule for the day3 - Go to the court, bright and early that day4 - Bring a pad of paper and pen (remember how those worked...they still do), because most courts won't let you bring your tablet, laptop, phone...into court.5 - Sit in the middle of the room6 - Watch and listen7 - Take notes (see #4)8 - Learn.

It doesn't just have to be through agents or wholesalers.Side note: I always listen through the end of the episodes, but especially the last several with David's nicknames for Brandon in the sign-off.

You’ll want to take notes.  

What is the “starts in 7 months..” part.For the last 25%, you can use a mtg calculator for monthly or annual and plug in any interest rate you want.The seller gets protected by You executing a note and mtg, recording the mtg.Note, the more weird terms you put in there, the more likely to scare off the seller.....as it should be.

There were four areas of concern that I noted during the walkthrough:1) A $600 kitchen ceiling fan -- the centerpiece of the kitchen decor -- had been replaced by a cheesy $40 bathroom fixture.

See what is being offered for rent and take note of the condition compared to yours. $200 in swing for condition are normal in my market.