The apartments are about one mile from Augusta’s medical district which could make the apartments attractive to nurses working at the hospitals.  

HOWEVER, you pay a higher rate to do that, you are obviously financing more which also increases your payment.

It's not impossible to do a 1031 exchange out of a property while carrying back a note, but it's complicated enough -- if you're going to make the deal attractive to him, find out if he plans on looking at a 1031 and come prepared with information to help him navigate the hurdles that come with the seller financing. 

Purchase price: $199,000 5 unit, Value add opportunity to increase rents day 1.

I need to move fast as some of these properties come from an offmarket seller.I need to increase my portfolio of SFH homes.

Not to mention increasing the value of your property

That means that even at $150/mo cash flow, you're just one association fee increase (or special assessment) away from losing money every month!

Maybe you can include a clause that if closing does not happen within a given time period that you will increase your EMD or the total price they get. 

Costs are up, but so are asset values and potential rent increases.

And credit balance will slowly increase with time.