In high cost areas, it may be virtually impossible to cashflow/hit the 1% rule today.

My wife and I have a high w2 income and hoping to add real estate to the portfolio to diversify, learn something new, and for tax purposes. 

Highly recommended. 

I estimate the current value to be around $360-380, and I owe $182k.   

However if are dead set on Owner Financing, you have to get get 20% plus down payment and if you are in Florida, you have to deal with a Judicial foreclosure process which is not nice to Lenders, I would highly recommend against it.

Own money How did you add value to the deal?

So far I never had a tenant after the discussion that within 24 hours did not provide me the time they would be out.  

My Mentors & a few of the lessons taught:- Age 0-13: My Father - Integrity, Faith, How to Love & **How to Play Spades**- Age 13-17: Coach Jones - Commitment & Grit- Age 17-20: Coach Larkins - The Value in Reading & How to Think Bigger- Age 21-24: Sean Myers - Never Stop LearningHow important has mentorship been for you?

I can say that managing remotely is a challenge for many, I don't really know what value a person could bring trying to perform management services remotely for a third party. 

Can someone provide some insight on how you structure your commercials loans?