I think it's 100% viable to learn this business aside from a 9 to 5 job in the field although it can definitely can help overcome the learning curve.If you're interested there's a great conference coming up about note investing called the Diversified Mortgage Expo (DME) that can help align the who, how, what, and help build your network of service providers as well.

Merit being some combination of financial upside and better alignment to your long term goals. 

The quality of their notes is better, some provide BPO and O&E which helps with DD, and their pricing is generally more aligned with reality.

Aligning that with your goals (“I am staying local for work and want to buy my first place”), house hacking or live-in flip are the two options I would consider. 

Understanding your goals will help you make informed decisions.Professional Guidance: It might be beneficial to consult with a real estate attorney and a financial advisor to help structure the owner financing deal and ensure it aligns with your financial objectives.In summary, your deal has potential, but conducting thorough due diligence and seeking professional guidance are crucial steps before proceeding.

@Sonu Sharma For foundation I have used Align Foundation and been happy with the work and the price. 

All markets are local and sometimes the stars align, but I agree the numbers sound askew. 

If I happen to have a day off of my day job, that aligns with a meeting day, I will definitely attend.

At the moment i am profitting 1300 a month off of this property (since i moved out 5 months ago) and am looking to purchase another. i am having a difficult time aligning myself to purchase again (cash, because i used my savings on the 1st home) i am considering refinancing it and being able to cash out with 30k or so. the problem with that is that it would put me back in another FHA loan which i dont want due to PMI and having to live in the property.Its a good property and i really do like it, but it looks like i will have to sell the property just to start my real estate business.Any ideas of how i could get into another property asap. i have little money saved, but here in NJ the market has presented some good deals. please assist. 

If that is not how you wish to spend your time them then I would suggest looking into to outsourcing that part of your business model to a professional so that you can spend your time doing other things more inline with what you know or like to do.IF you look to hire a PM company I would suggest that you ask them some serious questions to make sure your goals and business model aligns with theirs.. remember just because they are a management company does not mean you have the same values and goals, if this is the case then the business relationship will not work.Below are some good questions to ask a PM company you are interviewing.. if they cannot answer these questions you may want to consider how well they run their own company.Questions to Ask prospective management companies       What are your average days on market for vacant homes?