If the seller wants to do the deal then you should be able to work out reasonable terms on their 25%. 

Maybe two years would give you enough time to be able to go through a traditional bank if owner financing doesn't work out. 

It would be worth you time to do a rent study to determine average rents, if utilities are typically included or not, and how those numbers work out.

Try to have another plan of action if it didn't work out in certain time limit. 2 Start contacting other experience investor if possible in your area to help out.3.

If you sign a contract to purchase the property and the unlicensed broker transaction doesn't work out be prepared to close on the deal. 

You could quit your job and give REI a full time shot and worst case scenario if it didn't work out, you could probably find a job that was as good or better than the one you left. 

I tried to do this with a property I have and it didn't work out but I think that is because I am out of state and tried to reach out to the police department as a whole rather than an individual officer.

I agree with you that everyone on the MLS is looking to sell retail, but that doesn't always work out for them.

I would suggest you try to work out financing either with the bank via FHA (since you mentioned this) or with your seller for 30 years or more, with NO PRE-PAYMENT PENALTY! 

I could probably do it, but I don’t have the contractors that I trust in my back pocket, so it probably wouldn’t work out great for me.