You have to be Accredited to invest in DSTs by the way - $1m net worth excluding your personal residence or alternatively you meet certain income requirements.

That's not enough time to have a new floor installed.I'm not sure which is faster carpet or any of the other alternatives that were suggested but i'm not sure 2 days is enough time to purchase, deliver, and have installed.The tenants that move in are only going to be there for a year.

I have been thinking about getting into REI for a few years now and really anything to provide alternative income. 

Alternatively those funds can be rolled over into self-directed IRA (this would not be taxable event) and in turn purchase vacation rental or any other alternative investment. 

If not, are there alternatives (short of moving to Texas) that I should consider?

Alternatively, if you don't pay at the beginning of the month I'm pretty sure it will get their attention.Caution: things that are merely annoying may not be grounds for withholding rent or breaking your lease.

We would like to present 3-5 owner-financing choices/alternatives for him to select from.Does anyone have experience coming up with choices that vary along term, interest rate, purchase price, percentage down, etc.?

Are there better financing alternatives for what we are trying to do?

What are other alternatives to find motivated sellers?

Alternatively keep the condo and renovate it to max out on the rent.