Please advise if this is reasonable to change.

Toledo pretty much offers the same, if you're set on that city connect with @Engelo Rumora Thanks for the plug mate,Hi Ken,We probably won't be able to assist as we offer turnkey and only to cash buyers.Our lowest entry point is $65,000 and that buys a 2 bedroom, 1 bathroom home that will rent for around $800pm.Plus, I'm pissed of with investors and lately and keeping all deals for myself heheI think you are on the right track with the 43607, 43612 and 43613 zip code.I encourage you to take a look at 43609 and select areas of 43610 and 43620.BRRR out of state is a recipe for disaster but since you are in Michigan, it isn't too bad I guess.Even being as close as you are and even if you lived in Toledo, I would always advise to get professional property management.An investors role is just that, to be an "investor".Elevate and delegate...Sure, you can probably manage 1,2 or 10 properties but that can eventually turn into a full time job.IMO, you should focus on scaling as in finding deals, raising capital, buying more properties, growing your portfolio, etc...And not dealing with tenants and toilets.Wishing you much success

Advising or mentoring or teaching others is always nice.As someone said, there is no UHaul behind the hearse.

Any advise is appreciated. 

What tips and advise would you give/ wish you knew as a newbie??  

Before you terminate the PMA, I recommend that you consult with an attorney in your area to advise you.

Term 3-5 years.Can anyone advise me as to terms I should offer (interest rate, points, fees etc) and anything else I should be looking for to make this loan?  

At very least, run your proposal by other family members so no one gets bent out of shape.Third, a three-year balloon is super-short and ill-advised!

However, I will say, if it is a year payment, it is advisable to hold the year's rent in trust and pull the money out as each month's rent accrues, just in case there is a dispute during the term.

Moreover this is an attorney state and most of  the attorneys do not advise their clients for a straight wholesale from the homeowner except some special circumstances.