They love the idea of a paintball field in the location and said that some sort of owner financing taking into account a percentage of business profits seemed logical.

I have 250K on a line of credit with interest at an Annual Percentage rate of 5% that I can utilize.

Dave Mosher I encourage you to talk to more banks about what you want to do and push hard for some kind of reaffirmation of certainty as to percentage ltv and seasoning and all terms important to you really.

Also, its important for me to know what the closing costs and the LTV cash-out is going to look like.Some lenders mentioned that I will need to wait a 6 month seasoning period for them to offer me an X percentage of the value, and If I want to refinance sooner they'll give me less. 

Would you mind sharing the numbers/percentages that you use when calculating your ProForma value? 

Would the operating agreement call for 100% profile/loss/capital to the seller and 0% for the buyer and it would be suggested that the buyer buys a certain percentage of the LLC from the seller every year? 

That's just a fancy way of saying that banks want you to own the property for a certain period of time before they will refinance for the appraised value instead of as a percentage of how much cash you have into it.

Whether it's a flat fee up-front like VRBO, or a percentage of bookings like AirBNB?  

If you are working with a contractor that does not have a track record with you, use caution when deciding on the percentage to give out per draw.

Since maintenance and repair costs aren't stable or regular, we need to at minimum save for when these expenses do occur.In more expensive markets and higher renting properties we need to save a smaller percentage.