My goal right now is show them a few different options and the financials.

This will give you some info so they are not guessing on what will be needed (they probably already know rough numbers, but each project is different).

That would be different than say a place that someone famous lived in for some time.

Look around for some pet food spill that into another big pan so they have something to eat. 

What would I need to do to structure the note in order to have a note buyer come in and buy the note or buy a partial enough to pay off the 215k at closing and still have some difference coming to me or the note revert back to me after the partial was paid for. 

You could probably just go buy a different investment property and achieve the same returns.

If that doesn't bother you, we live in different worlds.

These properties include different foreclosures and those that sell below their market value.

I would probably start with something different for your first property.  

Different states and municipalities have different rules so it would be good to brush up on them if this continues.