Clear opportunity for improvement How did you find this deal and how did you negotiate it?

For example, if she can't visit the property, is she good at record keeping (so everything is organized at tax time) or finding vendors, comparing product prices, finding free or low cost items on Facebook marketplace to improve the rental)3. emergency fund.

Are you looking to pay off the hard money loan, fund another investment, or cover property improvements?

You say you're based out of Vancouver yet your profile says Seattle.  

What's his home improvement contractors license?

They may sell in a few years when interest rates drop or keep it longer term as cash flow on the property improves!

They may argue they couldn't pay you because they just made a $10,000 improvement to the house. 

Plenty exist for private lenders (which is what seller financing is) and can track payments and am tables and also do automatic electronic withdrawal (ACH debit) which helps improve the likelihood of getting paid promptly each month.

Diversifying your portfolio could reduce risk and improve overall returns.Higher Cash Flow Potential: If you redeploy the equity into markets with higher cash-on-cash returns, you could significantly increase your monthly cash flow.

Proceeds to segregated account to be disbursed ONLY on rental property improvements and expenses to preserve the deductibility of interest on your Schedule E.