Unfortunately, real estate is often messy so I can't say I'm too surprised, so I'll do what I can to talk through each thing.The rate float is not uncommon, as we've seen the 10 year treasury fluctuate a bit the last month or so, so I wouldn't be surprised if they had originally quoted something (guessing low 7s?)

This is a pretty weird question, I know, but I am curious.I get that you can do deals pretty much anywhere, and there are good deals all over the country, but I don't believe that the markets are equal in this regard.For example, if the seller has the ability to look at your credit as an investor (which throws out one of the sole purposes of doing a seller finance), versus states/markets that don't require that as much, I would like to know the states/markets where owners checking your credit history is not going to be prevalent in a deal, assuming the seller is willing to do this kind of deal with you.For context, yes, I am a new and aspiring investor, and due to certain circumstances, my credit is currently not the best, but I don't want that to stop me from investing in real estate (which is why I'm leaning to using seller financing).Please no answers saying that I should just raise my credit score and get an FHA/Conventional loan, because I am currently working on raising my credit, but I can't give a time on when my credit will be "back to normal" again, which could mean I could be stuck on not qualifying for a loan for the next couple of years (ain't nobody got time for that).Thanks for the help!

Did you know about various tax credits available for real estate?

Although I don't make very much from my W2, I've been there for 10 years, I have 2+ years worth of emergency funds, and excellent credit. 

When the cost was super low compared to the potential cash flow.

I am starting to consider buying a deal for cash now while prices are low and then refinancing or selling once prices go up.

We live in an area with relatively low prices.

Ask them when they issue distributions (anything before the 15th of the month is a red flag), do they require reserves, how is maintenance charged, do you see copies of outside contractor bills, do they upcharge materials (PM's have LAR accounts with Lowes and often get 20% off), do they keep all late fees or just the management fee, what other fees do they charge (renewals, inspections, etc), where are tenant security deposits held, how are evictions handled and are you consulted before filing, what screenings do they run, what qualifications do they require from tenants, ask for a couple other owners to visit with for a reference. 

Your unfair advantage is your ability to owner occupy a place and the low down payment loan options that come with it. 

Or if you can get a 0% interest credit card to purchase materials - I've had to do that in the past and put 70k on two credit cards :-/ Then when the bank finally came through I paid off the CCs.