You'll have to ditch the seller financing and have skin in the game.Freddie also requires that borrowers meet minimum financial strength requirements (IE - liquid assets equal to 9 month's P&I [bare minimum], net worth greater than or equal to loan amount [bare minimum], FICO>=680). 

If you know that something major will need replacement in the future, increase the monthly amount you are depositing into your reserve fund.

It will teach you so much, has the best financing options, least amount of risk, and will let you know if you want to be in this business or not. 

Welcome to the community and be ready for a huge amount of information at your finger tips.

I dont want to get a loan for more than the true sales value of the property but I would like to get atleast the normal amount back for the money I have put into it. 

With that amount of equity and being in CA I think you have a couple decent options1.

If it isn't the same amount every month - an entirely new batch has to be setup for each "off" amount and refunding them is also a bit of a hassle.  

They are far better at tenant selection than the average landlord that screens a few people per year.Efficient Rent Collection & Enforcement: I spend a ridiculous amount of time answering questions from investors that have no idea how to handle late rent, unpaid rent, and other pay issues.

Qualifying for REPS does not automatically mean you can offset income, you need to have material participation, at least a 5% ownership stake and an amount at risk. 

Get a roll away dumpster too- the amount of packaging waste the setup generates is staggering!