Quote from @Laura Yelin: Hello BP'sI like Sherman...I lived there for about 3 years many years ago and still sell and rent there.It's a slow wealth building market in my opinion, not get rich quick.Mostly blue collar stable town.

Not sure how you believe they could control their cash flow. 

I would like to work out a payment plan whereby they pay me while I have control of the rights to the mortgage then in 10 years I pay off the principal.

The mega site in Richmond, as well as Mt Vernon, will really change the landscape in these areas as they did in E-town when the battery plant came in play. 

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

It means instead of having one or a few things that you have NO control of what so ever, you now have several things you have NO control of what so ever.

The fear of renting while out of town is common, but it's easy to overcome, especially when you have friends and a handyman.

Scaling-  your question is both country and even town specific.  

Assets identified in this study include:Appliances: Dishwasher, microwave, oven refrigeratorInterior Finishes: countertopsFurniture and Fixtures: shelving, built in cabinetry and decorative light fixturesSpecialized Equipment: Electrical systems and specialized wiringHVAC controls and specialized components63.6% of the total depreciable basis was classified as 39-year class life.

Our HOA/complex manager has saved my butt more than once when a guest has locked themselves out of the unit and I'm across town or whatever.