You want to make sure they have skin in the game. 

They are usually the most amenable to seller financing on lower deals because it's no skin off their backs and they don't need the cash and capital gains.

To be honest I felt reassured at the idea that they have some skin in the game, and not only manage the property but be a proxy for me in front of the tenants when collecting and making financial decisions especially with repairs.  

Sounds like a decent deal on the surface.  

They have more skin in the game then you do.Make sure you get clear title.

You don't want the tenant to decide to choose another place last minute since they have no skin in the game.

It is the basis for the idea that we should be judged by the content of our character and not the color of our skin.

First is that appraisals are starting to come back not so great on some deals (signs of the market inflating) or the lenders are wanting you to demonstrate your basis in the property so they can make sure you still have skin in the game which defeats the purpose of BRRR. 

The arrangement you have with this tenant seems pretty simple on the surface.

Unfortunately the quality of hard surface mechanics has suffered greatly in the last decade as the ones that retired took no apprentices hence the increase in the click lock products which require less expertise.