When you sell the property and gain the difference between the sale price and the cost to you, that's profit.Net profit to you on a rental is the cash flow. 

It will most likely change your pricing. 

They share a lot of similarities in terms of price point, both for your purchase as well as your rents, they are attractive to renters and first time home buyers because of their affordability relative to the rest of the county.  

Each of these offers has been $20,000-30,000 over the asking price with owner financing. 

Taxes are reappraised every year and if it is not your homestead, your property taxes can go up without limit.You have to really know the market and not just what prices seem to be.

If you got the first house for a song and a dance it would probably be better financially just because you're getting a better price on the skeleton than you would in a fresh build.

Letting go of that slice of control is hard but once you do it's quite freeing which is hard to put a price on in my opinion.

As you know all areas have been challenged with over priced houses.

Short term rentals usually price best 65-70% loan to value but if the cash flow is very strong to support a higher rate up to 80% is still possible these days (not common though).Best of luck.

It also still ultimately doesn't change the fact that the list price is only higher because the commission is included in it and the buyer is realistically paying for it (over 30 years) anyhow although it reflects on the sellers side of the CD.