Your profit on deal #1 is $25k so you would pay taxes on that.

Or a doc they have created & given a title company on a subject to deal?

I don’t currently have the money to just pay it off but considering if I should attack the loan over the next few years or save liquid funds for future deals. 

Keeping a bad deal because it has a low interest rate is just silly. 

In fact, given the success I had on my first commercial deal (bought, rehabbed and flipped an 18000 ft light industrial building and netted $500K in 24 months), I'm not even sure I want to do residential going forward. 

What do you think about this deal?

I'm not opposed to this program but am somewhat confused by all the somewhat ridiculous fair housing laws that real estate people have to tiptoe through and then they offer these special deals to only this select group of people?

In 2018 we began sourcing off market deals by doing direct mail marketing campaigns.

I would highly recommend to consider it and include it in your deal analysis for potential properties. 

I feel like it is a good deal for both of us but like I said, it is my first time and I don't want to shoot myself in the foot.