Personally, I think it’s a nice riverfront town with a lot of potential.

You are multiplying several challanges for an overall much higher risk profile. 

It’s less about choosing the perfect path and more about understanding the risks clearly so you’re never investing blind.

Receiving cash upfront from tenants with low credit is very tempting and may lead to a lower risk of financial loss.

Not exactly what I prepared for as my first doors but I want to make sure I do this right. What does the community suggest in terms of how the management agreement, leases, etc. are changed/structured due to this? Or ...

Yon good deals you'll get money back to fund your future deals & get to keep potential equity/profit in the deal.

@Fady MikhailConsidering utilizing a 1031 exchange and using all of the tax to your advantage by reinvesting it into something with some cash flow potential is wise.

Quote from @DeQuantay McDowell: I’m close to locking up a potential fix & flip deal here in Columbus, GA, and I’d love some feedback from experienced investors before I move forward.Property Details:4 Bed / 3.5 BathPurchase Price: $275,000ARV: $360,000 (based on comps within the last 3–6 months)Estimated Rehab: $15,000–$25,000Mostly cosmetic: paint, flooring touch-ups, fixtures, landscaping, and minor updates depending on inspection.Seller claims the property will be delivered free and clear (no mortgage or tax liens)Current Condition:The property is in good structural shape.

(A 5% return you could make off a bank CD with zero risk?)

It is not seller financing by definition because the seller is not financing anything, their lender stays in place while the deed transfers to the buyer, possibly violating the terms of the loan and potentially triggering the due on sale clause, or causing insurance issues, potential problems with heirs, etc.