I would like to work out a payment plan whereby they pay me while I have control of the rights to the mortgage then in 10 years I pay off the principal.

work out whatever terms you want with them.everything else is hard money / commercial money.

I’ve never managed roommates or lived with roommates but I know it will benefit me so if  the triplex doesn’t work out I wouldn’t mind having roommates.

We have 3 boys who are actively in sports and the location of the house just doesn't work out for us. 

The issue there is that you have some people that just don’t work out and some people you have to let go.

Hmm, thanks again, I'll recheck some Japanese properties and see whether something there looks like it might work out ok. 

Plus, if one area doesn’t work out, it’s probably much easier to sell a single-family home than an entire multifamily propertyBut again im not an expert, im actually hoping for some guidance here as well

The lesson here is that EVERYONE (especially mentors/gurus selling their “expertise”) has investments that do not work out as anticipated, one that actually lose money, and one’s that tie up your capital for long periods of time before you get your capital back.  

I go in with an intention and optimism but once you're in it things work out the way they do and getting your calculator out isn't going to change that.

If this deal doesn't work out.