Here in Canada, both commercial and residential mortgage have terms less than 10yrs ... the most common being 5-years, so "balloons" and renewals are the norm.As Omar indicated your primary concern should be running your business as efficiently as you can and maximizing the revenue stream.    

Hi All,So I'm renting out the garage on a multi I own in MA to maximize my cashflow. 

By doing the work on the title i was able to maximize the sales price.

You are trying to win the deal based on your own self maximizing interest without regard to what the sellers actually need and the tools to fit the scenario.Second, if you really want to make a seller financed offer, why offer an optional ballon at $270,000?

On your end, it would be in your best interest to refi the property as soon as possible to maximize your profits.

@Ezell Jamison I would seek out a good CPA to look over your tax return to maximize your writ offs and make sure you are in compliance with the IRS rules.

Having the two properties beside each other is there any creative ideas as to what I could do to maximize rental income?  

In this case you are prioritizing a lower guaranteed return over a higher risk / higher return.Using leverage when you are growing your business is a great idea to maximize return.

Depending on how many rentals you have and the cost basis of the properties it may be a good idea to have a cost segregation study done to get accelerated depreciation and maximize your deduction.

How should I build the home to maximize property value?