Looking to make an Intra-Family loan for a project and I am looking for a simple Interest Only Promissory note where the investment plus the interest is paid at closing. 

Simple, ALL IN, divided by NET income.

Likely your first step will be hiring a virtual assistant to take care of simple tasks that you might not need to be doing yourself.Also, if your goal is to become a full time investor, what is stopping you?

Could be a good initial strategy for you especially if you like to DIY.

But it’s just that simple.

My friend arranged for us to meet and I was amazed how much of smart yet simple guy he was, super down to earth. 

That is a simple fix.

I grew up blue collar and my dad was a contractor, so I'm very much a DIY guy and think I can reasonably handle property management. 

Many accounting firms around here (New Hampshire) start at $1,500 - $2,000 no matter how simple the situation is. 

Most title companies in Cleveland should be able to handle that, its a fairly simple legal task.