He has already shown willingness to do so, therefore I am wondering whether this may be the best route to take, or, should I be patient, continue to learn/network and revisit my own situation after I start the full time job in October.Trying to find a balance between patience and looking into creative strategies to get started.Any advice is always appreciated and let me know if more information is needed to understand the situation.

It sounds like you are willing to be patient but if you wait a couple years you may very well be dealing with another owner with different motivation.

When the note is paid in full, the note holder files (records) a release (or cancelation or satisfaction, depending on your county) in public record and effectively 'just walks away' as you state.

Also, be patient, Never is every response a deal.

So just make sure you're patient and find a good tenant to start, then end their lease in March 2018 at the earliest.  

Its all a calculated risk really but be patient something will pop up. 

House flipping is all about the unexpected—but with flexibility and persistence the patient investor will find his, or her, way through the obstacles.

The potential appreciation is a bonus so far, and I am lucky in that I would be sitting on a fair amount of equity if I were to sell my first California home.Thank you for providing numbers to give a comparison of your returns (Folsom, CA vs. duplex in Cleveland).I will be patient with the cash I have ready for investments.

Instead of 100 individuals, you have one large business.3) I get the satisfaction of 100% ownership of a particular piece of property.

Again, these may not increase your rents but will increase tenant satisfaction and reduce future costs and problems, plus give you a bit more to depreciate. - renovating a tenant feature.