The seller's mom passed away years ago and it was my understanding that "right of survivorship" would automatically grant full ownership of the house to the surviving owner (the seller).

Welcome to the site @Hoang NguyenBe sure to check out The Ultimate Guide to Grading Cleveland Neighborhoods when looking into investing here in #theland

Ultimately, you can gain all kinds of knowledge from various "gurus" and if you don't take action, nothing is going to happen. 

If not, then once they are paid off will you have to ultimate re-finance them again to gain capital to continue growth.

She is probably a single parent with no child support and doesn't make enough to survive on her own and needs assistance from mom. 

Ultimately, avoid getting trapped into a bad deal just for the seller financing option.At the end of the day, in my opinion, you are investing for the property and the money that the property will generate (be it appreciation, cash flow, tax incentives, etc).  

You might also find the Ultimate Beginners Guide helpful if you have not already done it.

I ultimately chose the university track, got a master's in finance, started a business in Beijing, and am currently working in commercial real estate brokerage in NYC.

@Jennifer Richmond try and figure out a way to include lawn care into the monthly rental amount with a lawn that large, ultimately tenants don't take care of a home like you would.

I know you were asking various questions in your post but thought this scenario would clear up any confusion since you can borrow money from many sources until you ultimately Refi later with a traditional loan (which is usually best since they'll have the 'cheapest' rates and terms).