even if its interest only, id want to pay down principal here and there. seems like sellers would offer this interest only route so they have 0 capital gains tax, but id rather pay down a bit of principal in 7yrs. i see its not required but it should allow for principal paydown in promissary note3) any general advice to look out for on seller financing?

Or does your financing terms require you to do something else (which is why we need to ask question #2).Maybe the original poster will respond as well but those are the 4 items I would tell you to uncover.  

You should require the new person to apply, pass your screening, and sign the lease.

It's a more involved discussion that requires one on one communication and no, joining a "community" does not prepare you.

What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Given interest rate changes, property values, and lender requirements, I’m curious about:How were your acquisition and rehab costs compared to your ARV?

You aren't required to offer a loan mod prior to foreclosure.

If you sell your only overachiever to go with a more leveraged position, you could have 2-3 properties that may cover themselves or even provide a little profit, but when the rental markets shift (and they do), now you have 2-3 properties that all require you to supplement for their shortages. 

This is not even close to the documents required for a properly drafted loan.