The buyer ended up buying and reconverting to a single family, and doubled his purchase price.

What would I need to do to structure the note in order to have a note buyer come in and buy the note or buy a partial enough to pay off the 215k at closing and still have some difference coming to me or the note revert back to me after the partial was paid for. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Clinton.

A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

Buying a house near the comps would be a bad deal since they would be buying at a premium.

Once you have done it in your own backyard and know the demand of owning RE, you will be much more ready to buy out of state.

Investment Info:Single-family residence buy & hold investment.

@Eric L Conry you are essentially borrowing on your property to buy stocks.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.