If you manage a property on behalf of someone how do you liquidate the asset to give the owner cash? 

If so or if you have worked with permits, please provide more details on cost & time line.

What is the cash flow going to look?

You need that cash if you're going to buy an investment.

As you referenced, it provided low interest rates and required a very low down payment.There was no limit to the number of properties an investor/owner could finance.  

Peace & BlessingsRayWhat’s the seller’s incentive to sell to you with a note rather than sell and receive cash at time of closing?

Quote from @Luis De Jesus:The link provided by Bjorn should tell you what you need to know.

In terms of structuring the loan - I am in the Houston market looking for a deal that will cash flow.

It has been hard finding a place that 1) Doesn't get bid up by cash buyers that we can't compete with 2) Doesn't have 10's of thousands of capex out the gate3) Is in an area that I'd grade as C+ or better.

Marketing example - Avail is aligned with Realtor.com,  I also used Zillow as well as Marketplace to list the property for rent because they provided more traffic.