The entry fee is 8% the existing loan carries an interest rate of 4.125%.

I usually require my tenants to carry renter’s insurance with at least $100,000 in liability coverage.

Do you mind sharing the name of that type of loan/lender that allows you to have the seller carry on a second position?

is it enough to carry you into your next projects while maintaining enough access to keep your current real estate operating smoothly?

Make sure you talk to them at their level to nurture the relationship and not be adversarial.  

While I was open to carrying a note, I wasn’t going to go that high.Unfortunately, there’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business.

(This option would would not carry any debt, all debt would be paid in cash)Or keep our current house, rent it out, and cash flow NET monthly about $1,500?

What I am hearing is you will need to rely on  some properties to carry others.

I'd like a Seller carried note to cover the down payment for my hard money loan. 

If they are the one providing most of the cash, they might not want to carry that liability, but you've already negotiated with your partners on this and then the bank isn't cool with it, you could be in a pickle.