Security systems are easily outsmarted, that’s the point of the initial visit, to case the joint. 

I liked the tenant, school is starting back etc, I told them they could pay first month and security deposit and I would let them have the rest of August for free.

It probably would have cost me about $10k more, but I would have still been able to secure the property.

The buyer may pay off the remaining balance at any time without penalty.2.Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.Loan Security: The property will serve as collateral for the seller-financed loan.Hey @C.S.

Hi BiggerPockets Community,I’m Jaedon, and I’ve spent the last few years helping clients secure business funding to grow their ventures.

I got the Discover It Secured card in high school and used that to build up my credit. 

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

All are perfectly functional now, but could pull higher rent with replacing the flooring, and updating the kitchen.My current financing setup for this deal would be $235,000 from the HELOC I already have secured.

In short, securing an STR permit isn’t easy unless you fulfill all the township’s requirements

Some lenders offer creative solutions, like a cross-collateralized loan, where they use your existing equity as security without refinancing the duplex.Another idea is partnering with private lenders or exploring a second-position mortgage, depending on your lender's terms.