I just sold a house in Cathlamet on contract for 80k that rented for 900.00  As I am a retiring landlord and just more interested in collecting note income.. but that's just one example.

We were under contract on a property pretty quickly but after numerous extensions the deal fell apart. 

I'm thinking about asking him if I find a buyer for him and he get his $150k, will he be ok with me collecting whatever I can get for the house above and beyond that.

Idea would be to restructure terms and give a 2 year extension of I/O payments for the borrower in hopes he could secure financing.

It's still on you to collect it. 

I collected 1st and last at lease signing.

However, this is the military forum so I will add this: If you were moved out of the area on military orders you get a 10-year extension on the 2-in-5 rule.

Upon the expiration of the Lease and any extensions thereof, Tenant shall surrender the Premises in as good of state and condition as they were in at the commencement of this Lease, reasonable wear and tear from ordinary use excepted.The issue here is there is not mention of a $$ for a Penalty. 

Im on my 13th flip and have 1 rental (12% interest only) I am in the process of paying down debt to get a better refinancing rate and was kicking around the idea of selling my primary after getting approved for a bigger house for my wife and 2 boys, and then selling my primary to pay off my rental with the equity, firing property managment and collecting $1200/mo rent.

You could always refinance out of it and collect the tax benefits if you can handle the payments.