If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.

But that cost and term would ultimately decided between you and the private lender. 

Ultimately, when you hire a property manager their job is to protect your investment and truthfully forward you the bill + their markup (if applied). 

Ultimately it depends of the seller deep motivation to sale, if they need the cash to relocate or invest elsewhere the seller financing will not be a good option however for some sellers the benefits can be: Cash flowing without having to deal with tenants, maintenance property tax etc Depending on the terms you agreed on they can get a good interest rate on their capital Tax benefits Usually with a seller finance they will get a higher price for their property than with a cash offerIf you do a wrap and they have no equity it’s a good way to walk away from the liability and have someone else making payment under your name, in some scenarios it might even help fixing the seller credit score, however the mortgage will still be under their name and ultimately they’ll be hold responsible if you (the buyer) stop making payments.

We would like to purchase multifamily units and use the cash flow to pay for our rent (ultimately, we would like to save and buy another home and have the multifamily units pay for the mortgage).Basically, we would be selling our home and becoming renters again in order to hopefully have an investment that will pay for some or most of the rent expense.

I have put offers in and one came close but ultimately fell through.

I think a great way to begin using BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.And now that you're here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Fort Walton Beach" or "Pensacola" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area.

Time to build the foundation.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Also, since you are an agent, don't miss The Real Estate Agent's Ultimate Guide to Working with Investors.Glad to have you here!

Time to build the foundation.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.