This would hopefully maintain strong cashflow from the property will providing some capital to use for the next property acquisition. 

If I were starting over as an out-of-state investor, I’d focus on building a strong network from day one—especially a great agent, property manager, and contractor.

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? 

My goal is to build a strong network, exchange insights, and work with professionals in the local market.

I’m committed to keeping my options open and continuing to learn about being a landlord to ensure I’m well-prepared for my first purchase.To improve my ability to analyze deals, I’ve developed a two-part plan:Join a local BP meet-up group to discuss my goals and support others.Continue learning and engaging with the BP forum.Thank you again for your guidance—it’s truly appreciated!

If you go the direct-to-owner route, commit to doing consistent outreach for at least a year or, better yet, at least 2 years.

If you own it outright, you’re in a strong position.

Your emphasis on proper property management is a key takeaway, and I’m committed to educating myself in areas like tenant screening, lease enforcement, and proactive problem-solving.

I apologize for the lack of communication and for the inconvenience caused by the delay.Transparency, responsiveness, and reliability are indeed core values for us at RADD, and I am committed to ensuring that your concerns are addressed promptly and efficiently."

My partner is onboard with the idea and we are strong financially.