Land Contract Income during verification - Due on sale concern?

[Mike Dugan]

Trying to think ahead about the following scenario:

1.  I sell a house that has underlying mortgage still on a land contract, which put me at risk for a due on sale trigger (understand the risks of note being called from many prior posts).

2.  When I go to purchase a second or third property and need to show income against underlying mortgage of property sold on land contract, I will only have a land contract to show income, not a rental agreement.  

3.  Will that cause concern to the lender?  Trying to get any input from people having done this, and also perspective from a lenders point of view.  

4.  Thinking that if I get loan for new property from a different bank, might be OK.  But if I try to get another loan from the same bank that gave me the first mortgage, wonder if someone in underwriting in process of verifying income against mortgage might raise a flag: 'why does one of our mortgages have a land contract against it...'

Just trying to prep for this scenario...

thanks

Mike