In short, I’m trying to figure out if it’s worth pursuing an off-market seller financing deal versus getting a traditional loan and competing for the property on the open market.

While we were onboarding the property to the system and trying to figure out the automated sprinklers, he was out there every day watering the lawn by hand, stopping the buck and taking personal responsibility. 

Instead of having to source a rehabber house, figure out how to do rehab when they have zero experience at it. and then trying to find a HML to do the loan up front ( if thye dont have the cash) and a take out lender.  

Where are your scheduled gross rents and effective rents so far in the last T12 months so we can figure out offense and defensive strategies.These would be the questions we'd go through in planning your steps ahead.

Now, you need to figure out how to find deals and pay for them.

You have some good advice here, but part of what you have to do, in addition to getting him out, is to figure out how you got yourself into this situation.

Now, you need to figure out how to find deals and pay for them.

You might be able to do better on the rate, which would make the figures a little more favorable.

This figure includes allowances for heat, electric and any other utility that the tenat is required to pay and this is deducted from the FMR. 

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?