This would allow for a longer carry back with up front cash flow.

Part of the motivation for congress writing Dodd Frank was to clamp down on the investors offering preditory terms re  rent to own and seller financing and that view has carried into craigslist rent to own adds and you say zillow. 

And in a severe duty application like renting to section 8, you probably have to do that every 30 years.In other words, your portfolio carries a $1,320,000 future liability ($60k x 22), which equals about 22 years of present-day cash flow.

I buy real estate but I carry debt which is actually tax deductible, my money works for me.

I know there are a lot of options, especially since they are family and willing to carry the loan. 

So I carry effectively 0 debt. 

I have a property listed for sale in Goodyear, AZ and it carries a 2.25% interest rate.

The property is paid off so you have options.Based on what you’ve shared, you carrying the note sounds like a viable option.Have you considered seller financing?

The current way the studs are built is not up to code, so they have to rebuild the entire structure of the kitchen wall This is not uncommon especially when renovating an older home and when budgeting you should also carry a very heavy contingency for unknowns. 

@Carrie Matuga I thought you might be interested in this thread.