You can sell your note (aka future cashflow) at a discount or whatever you can negotiate on the open market but that about your only remaining option for extracting cash out of your note.

I look forward to getting a chance to connect with many of you and to form some meaningful relationships with people of this community.Like I said earlier, I'm a total newbie....so new that I don't have a clear idea of what type of RE investor I want to be yet, but I am leaning towards mobile homes and buy and hold.

You should be able to extract a wealth of information if you are forthcoming about your situation in that they will be trying to win your business.

I had no money for a down payment so I defunded a Simple IRA that I had, extracted $5k and used that as a down payment on an FHA loan.

While just looking at COC on just purchase price *may* give you a metric that's meaningful in some respects, it won't allow you to compare the investment to other investments. 

Even if it was cash flow positive at its current equity position, it will be cash flow negative when you refinance to a high LTV loan to extract money for your next purchase. 

@Jason Mak @Bill ExeterExample:Sell SFR with $120k profitBuy apartment complex with seller financing, put $60k down, get $60k back from seller at closing.I'm assuming (knowing nothing about the 1031 process) that this can't be done, since you're extracting profits... 

Jones  why not establish a criteria for CoC return or some other meaningful metric?

That means you can only evict a tenant who's at-fault, meaning they've failed to pay rent or broken the lease in some other meaningful way (by selling drugs from the property, for example).

I've extracted the appropriate paragraph from the Texas Association of REALTORS Lease for your perusal.