By the time I reach 20% equity (likely 3+ years away), my monthly mortgage payment will come down when I refinance, but $600 is a big hit to the numbers. 

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

Income would cover rent for a short time.

You'll definitely need more time to get things processed.

But with 5 bedrooms I'll need at least 2-3 nurses to stay there at a time.

I have a job that also affords me a lot of spare time in my schedule and I'm looking to use that time to begin/continue/grow a real estate portfolio.

Depending on the type of commercial you want to get into my suggestion is to go work for a company that does commercial real estate as learning from people who do it and getting paid at the same time is not a bad strategy 

I spent a lot of time and money to learn how to structure seller financing deals.

I’ve been doing Subject to and Creative Finance for a very long time, and I know you have to think ahead.

They are pretty unique conversions, it does take considerable time, effort and money!