Sounds like the seller is trying to give a cap rate of somewhere around 10% (just doing the math in my head). 

People get in over their heads and things can spiral out of control.The point is never blindly trust anyone, even if they are famous on BP.

I want a head start for my kids just like every parent.

Idk what to focus on to hit my goals and ultimately I would like to get to $10k/month for financial independence and then $20k/month for financial freedom but I really can’t wrap my head around how people hit these numbers and especially without having a TON of disposal income.

There is a BP podcast about an investor whose strategy was to buy condos and become the head of the association to make sure their financials were in order.

I am teaching high school in Guangzhou, China, and also plan to start investing in real estate when I head back stateside in a few years.

Two thoughts for you: (1) Jocko popped in my head.

For instance I own a cleaning company and have about 4 different policy in place for my protection.

This could quickly get out of hand if all of a sudden a roof, furnace etc etc start coming into play.In this instance, seller financing was MY idea.

If your rent is a for instance $100 low, a month of vacancy would take a year to recoup.