In 8 years I get all my cash back...or,$1M gets lets me loan it out at 10% simple interest for 20 years with a balloon at the end. 

Rents are below market and only 5 units are rented for $2400/month with operating expenses at $681 a month. the other 4  units would rent for about $2k a month. 

@Frank ChinAnd for those of us who turn on a computer once a month and operate 99% on mobile... they just changed a glitchy app to a useless app (in general)

Is it just some simple automated Zillow number that you use, or do you do more manual and extensive research to draw your own conclusions about what good market prices are?

Since contract for deed (when done properly) does not get recorded, nor does a deed get transferred to the purchaser until the contract is fulfilled, you will not have to "foreclose".You will, however probably have to do an 'ejectment' (in simple terms a more complicated eviction) if the purchaser will not voluntarily move out.  

That means that the NOI (Net Operating Income) of the entire property needs to be at least 30% higher than your loan payment each month.

They will cost more to establish due to the legal work required to create the structure, but will cost much less per year to operate, saving you money over the long term.

I would want something that is very simple that I could live in and start to rent out the top and begin real estate investing.

So, for those who are much more experienced-how do I handle phone calls in a simple, professional way?

Current expenses provided by seller:3000 tax3200 insurance6900 utilitiesI add in 3000 for repairs (5%) for current 8 units, 1644 for vacancy (5%), and 3288 property management for a grand total of 19729 operating expenses.