The person leaving the trailer there is just to store it there.

It will still be reported on your personal tax return.

The absence of a personal guarantee from any disqualified persons is still required, just as with third-party financing.

If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

Have the tenants take and send pictures of any maintenance items and video chat with the repair person as needed.If you ever get in a situation where you just feel like you can't do it or don't want to do it, you can always put a PM in place at any time. 

@Laurens Van swol a few banks that we've worked with in the past allow you to close in your personal name.

Personally, if I were to sell the stock, I would buy more property, not pay off the existing one. 

I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down? 

I have no idea who I should reach out to for help, and I just do not understand how this person no longer responds to emails or returns phone calls.I hope someone can provide some guidance.