It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate. 

While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

It does sound to me that a lot of that work should have come out of the tenants security deposit 

The seller had a military contractor job with security clearance.

What is the security on the above?

However, I find myself uncertain about how to structure such deals and whether I could successfully secure them.I was wondering if you could offer any recommendations for educational resources that might help me better understand and navigate the intricacies of creative finance and seller finance deals.

Real estate is so localized that most federal based policy changes don't have massive influence.I can see him (semi-)privatizing Freddie/Fannie.

I understand this is a good way to become financially secure over time and am eager to start.  

That may impact the amount you have listedYour most advantageous route for financing will be seller carry or finding a private lender.

I should have elaborated in how the utilities are handled.Septic is the only private utility, and thus is my responsibility.