As far as REI goes, here's my history: I had one buy and hold with 3 other investors, which we just sold and I was a hard money lender for one flip.

@Vinvi Gucci, a few questions/comments:I would think YOU (and your wife) through your LLC should be getting a loan buy/refinance the house AND transfer the deed solely to your LLC at the same time.

Here goes: I've just purchased my fifth contract-for-deed (CFD) and I'm now on a timeline where I save up and buy a new CFD every three months. 

I want to buy him out at a premium of 1.4mm by seller financing.

You would be buying the home knowing that you must take responsibility for that cost.

You can buy a vacation home with 10% down.

Hey BP community! My name is Nick Crider. Short pertinent bio: I am one of those guys who can do just about anything I put my hand to. However the other side of that coin is often the curse of underperformance as I ha...

When less can buy MORE rent.

My advise would be to be pick a market and then start to go deeper into learning about what the best asset type to buy in that market would be. 

Best to have a  strategy of exit to LTR , so the property you buy should be reasonably worth for both