Refi at higher value, reducing cashflow to $100/month, but putting $50K in play for you. 

I work in the IT field and my wife in the Medical field.

I am wondering how hard it would be to create a mortgage for this note which in my opinion would reduce the risk .  

In many cases they simply need to raise some cash to pay taxes or a medical bill and don't really want to sell their note. 

My reason for considering conventional is: I have the money to put 20% down, the mortgage payment would be lower, which reduces my overall cost of living.

I found BP about 20 months ago while I was at home and medically recovering from a bad experience.

My ideal scenario would be to own a small investment company with a partner that holds a few mid-sized rental properties for baseline income, and supplements this with a few high-profit flips every year to help grow the rental portfolio and pay for lifestyle upgrades, vacations, etc.My formal education is an Electrical Design engineer, and for the past 10 years I've worked for large companies designing complex electronic (computer) circuits for things like Medical Devices, LED lighting, etc.

First of all I am 60 years old and I found BP about 20 months ago while I was recovering from some medical issues.  

I haven't done any lease options myself, but in my experience as a realtor, you will greatly reduce your pool of potential buyers.If your property has increased that much in value, another option would be to carry back the loan yourself.

I'm looking for a non owner occupied insurance carrier to cover the 5 bed room 3 bath home I am remodeling in cottonwood AZit is set up as a single family dwelling with a addition for a mother in law aptthe city will not allow me yet to be classified as a duplex but for all intensive purposes it is not sub metered sq footage 2864 with arcadia area in middle of homethe purchase was 70k owe about 46k on the property  and it sits across the street from the medical centerall new plumbing, electrical, drywall and heating/cooling unitstill under construction, will need about 30k to complete