So probably the only other option would be a refinance to pay off the short term debt, which would require you to be able to get that private money amortized at a longer time period, with balloon payments, or interest only payments during the life of the loan.

At this point i am going to see how it all plays out, if the threatened lawsuits come to fruition and as stated earlier, even though my properties are currently excluded from this, i am going to have them tested and abated if need be just because its the right thing to do.

This means that if a property generates $12,000 in NOI in turn-key condition, you can expect to buy and sell if for between $120k to $100k.

At this particular point in my life, I am not going to be the one who has the money to put up big down payments for properties (students loans), but I am attempting to form a team that would be willing to work together to make our collective dream happen.

@Robert Gunther It will depend on the condition of the property overall and how bad the foundation issue is.

We hope to start in Wholesale,  in order to gain capitol for moving into having 'passive' income through rental properties for a better life and retirement. 

Would the full 128K be seller financed or just portion of it example 100K then at a 5 or 7 year balloon the remaining 28K or remaining balance of the 128K be paid in full.2-since 51k is owed as a refi, is it treated just as the same condition as a regular mortgage would when it comes to seller finance.

What is the overall condition of the building, roof etc?

My main goal is to become a buy & hold investor, to start accumulating properties slowly and surely (in a pace of 1-2 doors every 1-2 years) until I have enough passive income to live my life by my own standards.

Depending on permitting, construction time and market conditions it could take you 5-6 years to get out of that single investment.