I am not comfortable buying out of state with zero experience as well as when my Family and I leave Hawaii to move back home to TX it will be our first house for our family!

We are not planning to go down the sell by owner path again, so that leaves us with two choices. 1.

I had to leave work immediately...

Is this a valid concern at all?

I would certainly take a hard look at the structure and look for possible areas that have been overlooked.As for your other concern, $2200/ mo is very suspect. 

I actually ended up just leaving everything because I got lucky.I guess if I was intending on keeping this longer I'd probably do something other than carpet, but I rather put down new flooring as I go to sell it vs now to get an extra 100-200 mo.. 

Which is another concern of traveling i plan self managing property.

What should I be aware concerning the contract itself?

If they specifically need to cash-out to buy another home than seller financing is often DOA.As mentioned, if the have a balance on their underlying mortage- If they want to pay it off it might require a big downpayment- It is possible to leave it in place with a Wrap but that is an advanced strategy and while fairly low risk, the due on sales clause is a concern.On interest rate, my experience is that a seller finance buyer usually has to pay a few points above the going interest rate for conventional/FHA lending so probably closer to 7% these days although it never hurts to ask for lower...All of this is theoretical so the advice to chat with seller to get more information is the right next step.Jeff

My only concern that is that they would all become discouraged from sending me deals.