Here, selling off minor interests can get into many issues of partnerships, securities laws, type of deeds and interests conveyed.

That was what John Steele & others were also attempting to convey. 

Such as converting from a annual lease to a month to month, or to catch up with market rent rate for that neighborhood...but I wouldn't raise the rent because their chance of paying rent on time is now relatively lower than before the father lost their job.I would do whatever it is necessary to convey to them paying rent should be their #1 priority, before they pay for their leased vehicles, before they pay their cable TV bill, before going out to dinner...

IL is also a tax deed state and tax deeds convey "new & merchantable title."

This usually means that the condo insures the outside and inside of your unit back to it's "original" finish out by the developer (or at first conveyance).

Again, I mentioned this to convey the idea that tax valuations don't necessarily reflect the current house conditions.

I usually deal with the lister and can convey my experience.

This information is not provided in the course of and does not create or constitute an attorney-client relationship, and is not intended to convey or constitute legal advice or a substitute for obtaining legal advice from a qualified attorney.

since most mom and pop sellers get confused by "seller financing", how should I phrase it?

"I'm looking for sellers who want to receive their equity in monthly payments"?

"I'm looking for sellers who wa...

If I didn't call and ask, I would have committed to a deed that's way less favorable.The contract does say that they are not responsible for hardly anything, and it also has conflicting information.Here's an example of double language pertaining to title (10 of my contract):Seller shall be under no obligation to (A) remove any title exception, (B) bring any action or proceeding or bear any expense in order to enable Seller to convey title to the Property in accordance with this Agreement or (C) otherwise make the title to the Property insurable by the Title Company.BUT, right after that it says:IF, FOR ANY REASON, SELLER (A) IS UNABLE TO MAKE THE TITLE INSURABLE OR CORRECT TITLE PROBLEMS OR (B) IS UNABLE TO ASSIST THE BUYER IN PROCURING FROM THE TITLE COMPANY, OR ANOTHER REPUTABLE TITLE INSURANCE COMPANY, AN OWNER’S POLICY AND LOAN POLICY, IF APPLICABLE, AT REGULAR RATES (C) DETERMINES IN ITS SOLE DISCRETION THAT IT IS UNABLE, OR IT IS ECONOMICALLY NOT FEASIBLE, TO CONVEY GOOD AND MARKETABLE TITLE TO THE PROPERTY INSURABLE BY THE TITLE COMPANY, OR ANOTHER REPUTABLE TITLE INSURANCE COMPANY, AT REGULAR RATES, AT THE CLOSING DATE, AND THE CLOSING DATE IS NOT EXTENDED OR OTHERWISE AMENDED AS SET FORTH ELSEWHERE IN THIS AGREEMENT (OR BY SELLER IN ITS SOLE AND ABSOLUTE DISCRETION), OR (D) DETERMINES, IN ITS SOLE DISCRETION TO TERMINATE THE AGREEMENT AND DEEM THE AGREEMENT NULL AND VOID, IF REQUIRED BY APPLICABLE LAW, AND/OR IF REQUIRED BY ANY EXISTING CONTRACT OR AGREEMENT BINDING UPON SELLER AND/OR THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY AGREEMENTSWITH THE PRIOR OWNER OF THE PROPERTY, ANY MORTGAGE INSURER OR ANY MORTGAGE BROKER, THEN SELLER MAY TERMINATE THIS AGREEMENT BY WRITTEN NOTICE TO BUYER AND THE ESCROW/CLOSING AGENT.