This would give an effective APR of about 9.5%.

I was watching Eddie Speed video and he said something to the effect that he used $100 to open up a ROTH IRA and used that account to buy a $70,000 note.

Do you have any advice around how to most effectively collect rent on late tenants?

I'm trying to get and idea of how this situation will effect my tax bill for 2015.I purchased and renovated a house in fall of 2015 with cash from a heloc on another property.

Complete waste of energy to show unfinished properties and worse, it could cause you to lose someone who may have actually bought the finished product.Perhaps with the demand you have there and the reputation you've built, you have a better opportunity to use that strategy to find renters.

Then, become an expert in that market, and then invest in that market.Unless you have an unlimited supply of time and funds, don't waste you time and money in an area that won't work.  

The terms of the agreement state it is transferable if the new buyer signs an acknowledgement of the terms (or something to that effect).

A sole proprietorship is probably the least effective as far as maximizing tax benefits.

Lenders are looking for safe places to earn interest and I don't think showing them a year of negative cash flow is going to have a positive effect. 

Given that I have good credit and can pay 25% down, would a commercial lender be the most coat effective route?