Seller-Financing and the Dodd-Frank Act... uhhh.....

[Steven Skinner]

Guys and gals,

I've now been reading now for more hours straight than I would like to admit. Lots of which revolved around owner-financing, be it seller carryback, contract for deed, or lease-option. I'm going to be purchasing several rental properties soon via either seller carryback or contract for deed, likely being carryback. Luckily for me I stumbled across this delicious little piece of terror called the Dodd-Frank Act, and dabbled in the areas that relate to owner-financing. Lots of info concerning fixed vs adjustable rate, balloon payment allowance, and even the blatant restriction of only being able to finance up to so many within a 12-month period. Currently I've got four different properties in the works being sold by two different sellers, three from one and one from the other. I'll be paying off their remaining mortgage balances by way of my down payment, two of which are as high as 27%. For now, since my brain has chosen to retire for a short while, someone with the knowledge please enlighten me of what it is I need to know moving forward. I'll definitely do more research once I've got some shut-eye, but I understand it also can't hurt to involve some other, fresher minds in the meanwhile. At least two questions I have would be...

Are balloon payments still allowed? (e.g., 30-year amortization with an 8-year balloon).

Can one seller provide three owner-finance loans?

I noticed something relating to exemptions that may apply to properties being used for investment purposes vs that of owner-occupied. So maybe a good portion of what is included would not pertain to my particular situation? That would be refreshing. Anyways, thanks in advance for any contributions. They're greatly appreciated. Perhaps others with similar issues or questions will benefit as well. Later on I'll come back and add below any information I come across to answer my own questions or any of those you guys may pose.

Thanks!