If not, I’d approach her with seller financing.  0 money down with infinite returns so there’s no cash in the property.

Doing away with a pool is an expensive proposition and in many cases could approach $10k.

Then I was approached by an agent who pitched the strategy of purchasing a new build town home and renting it out by the room.

In theory this gives me the deepest conversation first with the seller on the rehab costs, permit issues, major items etc, to be in a position to negotiate an appropriate price.Down sides is....I would spend a lot of time and money on inspections on homes that may not close and my realtor is writing lots of contracts.Up side...I get first right of refusal and a strategic advantage in a competitive market.Is this approach legal? 

The motivation behind my median approach is a statement by Warren Buffet that goes:“Be greedy when others are fearful, be fearful when others are greedy”.This being said, I am still making offers and looking for good deals.

As the winter season approaches, the housing market typically sees a decrease in activity.

I always wondered why combining both isn't a better approach to use.As an example, is a CAP rate of 8% or 12% or whatever number you use always a good investment?

We are considering a couple of approaches:1) Buy a 2- 4 unit and occupy one unit.    

I've seen a three tiered approach... best value at a full year lease, slightly higher at a 6 month lease, and higher at a month to month.

Is this the right approach or should I finance under my own name?