I think your ARV is comparing this to regular SFR’s outside the park.

We work with out of state investors regularly - it can be done!

I kind of assumed that the title company could set up the 2nd mortgage with the monthly payments and calculate the principal/interest for a fee of course but when I called my regular title company they made it seem like I was talking a foreign language.Who handles the administration of your owner financed deals??

Now, there are a whole host of rules regarding unrelated business income and unrelated debt-financed income that come into play, which is why it is worth paying a CPA with malpractice insurance to handle it. 

I firmly believe househacking is one of the best ways to get started in real estate and we help people househack in MA pretty regularly these days.

Drew Wiard and Adam Beckstedt host a monthly REIA meeting the first Wednesday of every month at the Mike Thomas & Associates building off of  North Coldwater Street in Fort Wayne.

And then follow-up regularly. 

They host a meetup next Tuesday.

Plus there's regular inside banking too.

I would specifically include a provision in your lease about the tenant being responsible for any damages as a result of the furnace filter not being changed regularly.