I live in Phx,az and recently friend of mine sold his bank (ex bank of america) literally as is and profiteed $300k  , he purchased it right out cash last year (I think) and it was in real bad shape in a shady part of...

Maybe you could hook up with one of these battered women groups, and turn the place into a shelter for battered women, Where the charity would pay for all of the rooms and just use them as needed. 

There were on sale and I didn't have to pay for sales tax in Portland OR.

I am charging a slight premium over the list price of the house to lock in the price 2 years in the future and giving him 3 options to pay the fee for the option to buy.Option 1: 3.5% Payment for the option to purchase the property within the next 2 years.

I am struggling to decide whether to get into this home or narrow down to a property that is $310k and can pay for the mortgage right out of the gate?

I no longer qualified for traditional financing because I already own many rental properties and my DTI was high for the bank, so I purchased these in a business entity with a trusted private investor and was able to refi the 1st property/sell the 2nd property to pay back my investor and ultimately keep the better property for zero money down.

And not having to pay the Wealthability “ pay to play” up front fees.

That will help you to pay your mortgage.

By short I mean about 6 months to buy a DSCR backed house and then I pay off interest for those 6 months and the principal and then I become sole owner?

What initial steps did you take, and what advice would you give to someone just starting?