They are given 1st position on the property, so should anything go wrong, they can take possession of the property and get most if not all of their money backHard Money + Partnership - You and your partner form an entity. 

If you are thinking of out of state, I caution you to wait till you are in a position to scale quickly. 

Let the property sit empty until you are fully educated on the finances of income property investing or sell it and be free from th eresponsibilities of managining properties and tennats.It only come down to th enumbers, do not make any decissions until you know the market. keep in mind most homes make for very poor investment income properties and will be more of a financial burden than a benefit.In your position I would have it listed with a real estate agent and sell.

While I do feel I am overpaying based on the arv value of the properties, I am comfortable with the price due to the owner finance and positive cash flow that the property generates.

If you're able to position create an ADU the fees should be much less.

Canton happens to be my favorite neighborhood due to its close proximity to 95, major shopping outlets, the water, and overall positive vibe of the Community.

I would be also looking into reinvesting the earned cash flow therefore continuing to make business if I have a positive relationship with them. 

I think I may have seen that property, unfortunately we weren't 100% positive we were ready to buy again until now.

I ran my numbers pretty conservatively and still see a $350+ per month positive cashflow.

With mortgage interest rates at 5% they are losing $433/month or, to relate to cash flow, they are eating $433 of their positive cash flow before they deduct any other expenses.