The loan is listed on the HUD and they provide lender's title insurance.   

@Julie Doke: Industry specific software speaks to you and you can easily relate it to your day to day process.

Taxes and insurance will be another $400+.

@Kyle Cross you claim to know a lot about the industry, but your questions are vague and so is the info you've provided.Not sure how managing 8 units doesn't, "require much management"?

Well one thing that is interesting in regards to Earnest Money is that you take a place like Ohio, I'd imagine it's the same in Oregon but in Ohio the Division of Real Estate regulates the activities of real estate brokerages and their trust accounts but the Division of Insurance is who regulates title companies.

I'm thinking of selling my personal residence on a wrap, but I wanted to see what you thought about these approximate numbers (rounded for simplicity):$140k sales price$30k down payment from buyer$95k owed on my existing mortgage @ 4.875%$550 P&I monthly payment ($650 w/ taxes and insurance)Seller finance the $110k left w/ a wrap w/ a 3 year balloon.

I was taught this my the principal of one of the largest industrial REITs in the country and it has always proven to be true.

Who covers the tax bill when they don't pay the tax bill or the insurance? 

There are Class A industrial projects underway and the development of a large retailer.

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.