He is good with receiving 10% on his money paid out when I sell the house.

I also considered maybe I could sell the home but I just purchased it a year ago and have minimal equity.Let me know if there is other key information that will help inform your responses.

(I brought all this to the seller) he now has offered a sell price of $175k.

First thing you need to do is identify if you are wanting an income play or appreciation play.

I have a feeling the seller was aware they were not renewing and decided to sell at that time.

Hypothetically, I could sell all my rentals and put the equity into something different, such as an RV Park/storage, self-storage, mulit-family, mid-term rentals . . .Bottom line, I would love any advice anyone has to offer. 

Alot of brokers try to sell people into low (relative to interest rates) or negative cash on cash deals because they convenience the buyer that "real estate goes up".

If you sell for $200k, then you need to buy as much as $200k and at least as much cash you get from the deal (I think i got the latter half right).  

Let's chat at your convenience - I'm also one of the 700 agents out of the same KW office, have fone 75+ buy-sell deals myself and closed 55+ transactions as an agent, 80% on the listing side.

I recently reviewed a buyer's agreement which stated 3% on gross selling price, plus $695 flat fee in addition to percentage, for services provided.