Even though my Sales were mortgage free and didn't require hardly any time from me except between tenants, I simply wanted to do something fun for a change with some money.    

Simply buying a stabilized asset and operating it isn’t suited for an the OZ program.

If you do decide to get a down payment loan (a better term for this would simply be a personal unsecured loan) from your family - acquire the loan and deposit it in your account two months before you purchase the property, that will meet the seasoning requirements by the bank.

If he leaves you simply stop the eviction and file to collect rent owed in small claims court.

I'm simply looking to purchase some property for myself.

Ben,I believe that there are two questions you have to answer, and then I'm going to respectfully disagree with one of the other suggestions you were given:First, (and I believe Jim identified this issue) is your transaction a true lease option or is it a deferral of part of the purchase price, including payment of a finance charge?

I also have a good title company in Atlanta that i've worked with before thats pretty good.I am trying to seek more information on the do's and dont's of auction.com, hubzu, and just simply purchasing at an auction.

Do you have each of the properties identified already? 

I do simply 100% cash accounting. 

A few thoughts:Your NOI doesn't grow simply because of the difference between 3% for GOI and 2% of OpEx.