The issue I have here is how much control they have over my position, ( they have the right to buy me out at any time).  

Besides all the benefits of real estate, I like the control I have, and I like the discounts on the purchase price, I'm able to get. 

Pricing tools that exist on the market are decent, but you also need to know how to control it, otherwise, it will go nuts with unrealistic rates far out and extreme last-minute discounts. 

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

I would like to work out a payment plan whereby they pay me while I have control of the rights to the mortgage then in 10 years I pay off the principal.

Despite the inability to claim depreciation or avoid certain taxes, many investors appreciate the control an SDIRA offers, allowing them to invest directly in real estate and other alternative assets they are passionate about.I do not recommend buying tax-efficient assets like RE in the already tax-efficient IRAs.

Rent control on MF and if prop 33 passes (last polling I saw had it ahead) it could apply to all housing.  

But, this has absolutely nothing to do with living out of a line of credit rather than a checking account.Even not counting the opportunity cost credit given in the analysis for the “reserve” theoretical investment, the additional nickel and dime fees associated with the HELOC will eat up any savings.Perhaps you became much more vigilant at controlling expenses when you decided to use the HELOC to pay your everyday bills.

See what other controls they offer.