I love the place, & really want it (if i'm chosen to be the tenant), so what advice would you give me if I were to proceed?

I agree with the other comments that you should learn as much as you can about your chosen business. 

Built into the paperwork, signed at closing, reads the fine print as to whether the lender has chosen a 5-year balloon or a 5-year loan reset.If an investor chooses a balloon payment, this means that he or she will be getting a new loan at the end of the 5-year period.

I always try to work with what I have first before I think about painting brick, and a lot of the time it's not the brick that's objectionable but the colors that were chosen to go along with the brick (like in this post).

If you are attending real estate networking events, connecting with wholesalers, networking online, and leveraging every avenue possible to expand your real estate network, then those actions more so than your chosen path will be what lead to deals. - I know some flippers that have depressing tax bills every year and I know some long term rental investors that roll forward depreciation every year.

@Jd Martin,Working on your truck might well be considered recreation, even a hobby, as might pulling weeds...... as long you understand that you are ELECTING to do so rather than going out and finding the next profitable deal(s).Until you've achieved your own chosen level of success, procrastinating the electives might be considered asserting a work ethic.

It all comes down to the team and building out those relationships with people local to your chosen market. 

He has recommended properties, and when we were there he walked our showings with us and provided a lot of good information that we did not know.I have also had calls with the attorney recommended by our chosen real estate agent.  

As far as flexibility is concerned, I don't foresee myself switching back and forth very often on my chosen formula.  

The article is an easy read and if you open your mind it should give you some very constructive insight for your chosen path.