Since I'm taking such a cash hit, I asked the sellers agent if they would be able to designate some portion of the sale price ($200k?)

I could write a whole book on this topic, but this is what came to mind.3) There are a few factors that I consider when picking the city.

A lot of factors go into this. 

Is it fairly priced for the size, location, quality, and other factors?

You would likely have to do a ground-up construction for a design you are proposing.

Also factor in if the rents jumped a lot and if that would lead to a vacancy, which will cost you more in the short term. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I have a lengthy Legal Opinion, from my seasoned Legal Team regarding this matter.There are several important factors, when thinking about proposing Seller Financing.

Links/references- https://www.canva.com/design/DAFHd-6ryQ8/_T6h0Y9jV0zIEADl6bq... - https://therentalgirl.com/tichttps://andysirkin.com/tenancy-in-common-tic/operating-and-m... - https://www.stonesalluslaw.com/tenancy-in-common-in-californ... - https://www.investopedia.com/terms/t/tenancy_in_common.asp - https://www.rocketmortgage.com/learn/tenancy-in-common - https://www.allcalifornia.com/tenancy-in-common - https://andysirkin.com/tenancy-in-common-tic/guidance-for-se... - https://www.dre.ca.gov/files/pdf/tic_guidelines.pdfby the way I received a lawyer referral who is supposedly familiar with tic in California.  

We design our homes.