Normally there is a Modification to the Promissory Note. 

Talk to a WA housing attorney- I'm fairly sure that someone is required to have a real estate brokers license to manage a property in WA state for money.Here's another thread where it came up:https://www.biggerpockets.com/forums/21/topics/166986-washington-state-property-management-license Also- normally your PM would send YOU one for rents.

They have more skin in the game then you do.Make sure you get clear title.

There are a few across NC, and after your drive through one, you realize it's just like a normal road but with traffic on the left instead of right, like in England.

There is very little benefit to being worth 100 million as compared to 5 million if you have normal desires. in life. 

Personally, I would sign the termination and move on.When you do owner financing, you are typically selling to someone that can't qualify through a normal lender.

We go through the normal purchase and sale process over about 50 days. 

The issue being is it’s a little above my normal price range and a little outside my normal investing area.

I’m not sure if I should have him with a little skin in the game or whether we should split 50/50, I’m not sure what to do.

It's about an hour from where I would normally invest but a deal is a deal.