Although, I would definitley prefer placing my first property under my belt before then if it's possibleThank you !

@Mitchell Rosenberg  - I think the overall thinking is that most prefer areas that have a growing population with a growing/stable economy base that is diversified.

That sounds like a lot of work and I'm sure he would prefer to avoid that work and just sell it for $1.9m or $2.0m.if I were to buy it from him, to get to cash flow neutral I would need to increase rent on all 6 units to market rates and my monthly payment would need to be close to $6.2k/month, which would be $100k down payment, $1.7m loan with seller financing at 2% interest rate and flexible ballon payment.What would you do if you were me? 

In one of the 3 fundamental human needs (food, water, shelter).

Are monthly updates preferred as long as there is bulletproof accounting? 

Gita,At least the way I prefer to do things is to only run accrual based accounting activity on my day to day operations.

Super nice guy, and a genius.You can also go checkout Divorce Lending Association and find a local CDLP if you'd prefer.

Just food for thought- It's not always in your best interest to provide all of the materials, negotiate too hard, refuse to pay a deposit, etc.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

I have never been there personally but I have heard it's good food.