As far as rate is concerned, you can usually go about two points over the current rate (less closing costs for a seller financed deal so there is no real expense there) You need to make sure the borrower can cover that.

I like the idea of getting a great deal, so should I take a pay cut, invest in getting my real estate's license, go the CCIM route, and find a broker to sponsor me until I'm a CRE broker and earn of the commission and get into bigger deals as a GP?

Even if I were to rent it out on Airbnb, the cash-on-cash return isn't very attractive.Specifically, I’m concerned about:High mortgage payments and the financial strain it could cause if the property doesn't generate sufficient cash flow.Cash-on-cash return is low, even with high-revenue short-term rentals.My Questions:Risk Mitigation:Any strategies I can use to mitigate the risks associated with owning a high-value property with a large mortgage?

My concern is with the house that my dti numbers will remove my options for a loan.

@Paul Bommarito, are you concerned with their financials?

yeah the tenant pushing back is my concern. it just so happened that this happened with the tenant that seems to not like paying. and the heating is electric and this winter has been extremely cold which caused the electric bill to jump up to $800!

Cut expenses and work, no way around it.

Cut your losses the first time they miss a payment and start the eviction process.

I'm not concerned about his being able to make the payments and trust him to do so. 

Can you please help me understand better what potential concerns in your experience can potentially arise here?