I know that the LTR participation rules are more involved and would require that I qualify for REPS which I don’t have to do now. 

Rent Stress, Not Pro Forma RentUnderwrite at 5–10% below realistic market rent, not the highest comp.If Section 8 or guaranteed rent is involved, still haircut it for timing delays and recert risk.Ask: Would this deal still work if rent flatlined for 24 months?

Linden is an area to keep a close eye on for what you are looking for.

Love the game plan and wanting to be involved in real estate in multiple ways. 

No bank involved unless/until a refinance later.The main reasons I’m looking at seller financing here are that the property has been sitting for a while, the seller already mentioned it as an option, and I like the flexibility compared to going straight to a bank.

Tenant behavior around security deposits is often completely irrational (I wish there was research performed on this subject), and the time and friction involved in fighting over relatively small amounts is rarely worth it.In your case, if the dispute is over $1,000, you really need to ask yourself whether that amount justifies the time, stress, and potential escalation involved. 

Too many investors are involved now.Every investment vehicle goes through the same thing. 

I would definitely get an attorney involved or at least guidance for your county. 

So, I’m highly involved in the market full-time.My opinion is that Tulsa and surrounding suburbs provide a great place to live, and to invest in both Real Estate & Business in general.

You will need to calculate each option to determine the financial outcomes/returns for each.Once you have these figures, you can then assess the risk involved with each pathway vs the difference in return to make an informed decision on how to proceed.