Also, I believe they own this property out-right, no loans, etc.I'd like to structure a deal where they provide seller's financing with a 2-3 year off-load timeline that gives them a) some cash now via a down payment and b) some regular monthly income all while I work to bring rents to market value and we both benefit on the sale and refi.How would something like that work and what would it look like?

Quote from @Timothy Villa: Hey y’all just heard about this community and wanted to utilize it to grow more knowledge in how to have real estate help me with earning passive income. 

No problem if the salary structure is the same, but if there is any sort of commission income involved, and you need that commission income to qualify for the refi then waiting could cause issues. 

Of course I never had a really high w-2 income to offset.

@Nick Belsky these guidelines are for US Citizen living abroad with income on 2255?

Try a local mortgage broker who can likely even run an income scenario for you.If not, there would be many DSCR folks like ourselves that would be happy to help.

No one's income is fixed.

Rental Income vs.

I know little about owner financing, and to be honest, if I take on a 300k house payment (or even 250k for that matter), I would struggle to make the payment if I had a prolonged vacancy due to my current W2 income. 

What's left after subtracting the expenses is your Net Income.