. :-)  Any advise /info is greatly appreciated. 

I never advise someone not to see their attorney or other professional, what I can tell you is that a note is a pretty standard document, easy to understand and straight forward, so is a standard deed of trust as a security document.

As a former upstate New Yorker I would also advise you to move south.  

Also, you need a combination of paid marketing and self-generated marketing in your business.  

However, since a two-family house is technically "investment" property, you should also take into consideration the revenue it is generating, and a rental income and expense statement should be provided to potential Buyers.

To date we have generated $20M+ from that five hundred without incurring equity or debt.Here is my unsolicited advice and hope I don't sound like your father (not really):Do not barrow a dime.  

Please see quick math here for a $10K down payment ( 5% IR, 1% PMI, 900/annual taxes, $0 HOA)Mortgage/Tax/PMI/Insurance: $690/monthCapex (20% of payment): $150Vacancy (10% of payment): $75Management: $130With $1300 in rental income this generates at least $255 a month - better if I increase my downpayment.Here is zillow link: http://www.zillow.com/homedetails/14818-Astrolyn-St-Winter-Garden-FL-34787/82077144_zpid/I'm interested in these low income properties so i'm curious what you think of this deal.

I see lots of these folks as a college teacher...pretty much watched this generation for some time and tried to get them into things like investing in index funds or stocks in my business class and I highlight the economic advantage of home buying... 

Watching the interview of @Brandon Turner with Brian Burke who comments he survived to the crisis in 2008 because he just a flipper made me think about the risky side of REI.Lets say someone is good at REI and buy 8 properties  which generates 400$ dollars per month after all expenses.

If you need help with anything at all, I'd love to be your local real estate adviser!