I was hot with a barrage (helpful) that I would be breaking the law unless I and/or he had a real estate license.

We planned for that by not counting on the properties for cash flow and having 25K in savings for expenses (still on the low side). 

I've been in the real estate world (agent) for a few months now and I'm real anxious to start dabbling in the investment side.

With that knowledge, I was able to confidently invest in a SFH that only needed minor repairs to become rentable, to gain immediate cash flow, as I waited for the market to appreciate.The goal was to buy and sell within one year.Breakdown: Purchase date: 6/30/2017 Listed: $60,000 Under Contract (as the Buyer): $55,000 Acquisition Price: $46,250 Renovation Cost: $1,955 Total investment: $48,205 Ten months after the purchase, we are under contract on the selling side at $65,000.

Use around $20k for fixing like siding, roofing, driveway, etc.

The property has been unused for 2 years, still has furniture and will require some updating/cosmetic work to be rent ready but it seems like a great option to avoid the lender process on my side. 

I usually use 8% of rent, but that is probably on the conservative side. - Ongoing Repairs - These can be highly variable, but in my portfolio, long term, I was spending $150-200 per unit per month.With about 2 hours of work you can be sure the numbers are spot on. 

Similar to living in a duplex- living in one side but renting the other. 

The option to cash out the note would be on my side, rather than the sellers.

NW Arkansas is a very hot area and there are many great people there who will be more then willing to help you.