Any suggestions?

Thank you for the suggestion, going to look into it!

How would you suggest going about finding a deal and managing it out of state.

NOTE: I'm in contact with a reputable broker and the numbers they're claiming for repairs and ARV are SO MUCH better than what I'm using here, but I thought it's fair to pad the suggested numbers as I have done with the above also.  

The best part is the free CD is nothing more than a bunch of vague suggestions about how you can make all this money in real estate and vague bragging sessions about how he has been around so long and wants to give you all his knowledge before he croaks (paraphrased) Someday I will be completely immune to the crooks attempts at separating me from my hard earned money.

You'll probably get some good ideas here, but I'd suggest talking to a real estate attorney soon and maybe run some of these ideas by them.

They suggested 5-7 years and we settled at the 7 for the balloon.

@Chris Seveney's suggestion could be a really good solution depending on the numbers. 

Suggestions for best lenders for fix and flips in Michigan.

Or just any suggestions for the best bang for your buck areas that offer at least a little cash flow and appreciation ?