There are many service companies that will manage seller finance notes including the payments, escrow accounts, and documentation. 

Though I am unsure how I would amortize the up front remodeling costs for P&L, tax accounting.2) Interest only loans term loans -  Would allow current owner to have cash flow on the property, without eroding the asset value. 

It shows up in my online account, but they have not allowed access to the funds.  

[1]    You might want to think about opening 2 FDIC insured savings accounts that have no fees.

I just did a Zoom call with an accountant, a lawyer, and someone who helps set up funds. 

They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

It would be far simpler to put the $500,000 in a bank account owned by the LLC and you immediately own a fixed percent.

.🔹 Trust But Verify – Set up accountability metrics, KPIs, and reporting systems so you oversee performance without micromanaging.🔹 Know Your Role – Your job is to build and grow your portfolio, not handle every maintenance request.Final Thought: What’s One Thing You Can Let Go of Today?

Honestly with an interest rate like that you could even not pay off your primary and put any excess capital in a high yields savings account and be financially further in the long term.  

Ensure you account for expenses like maintenance, vacancy, or capital expenditures.