I feel fortunate to have been able to find a good group to bounce ideas off of and learn from.

I had a lady write me two checks and both of them bounced...not a good day. 

The more you learn and help others the more contacts you will make and find people you might work with in the future or at the very least find people that you can bounce ideas off of.Keep going out to the events (Will you be at Justin's next week?)

@Sean Pincus   Sean wish it was that good out here in Portlandia  24% is rare.. 10 to 15% is customary I just hit a 20%  and I have bouncing off the roof with Joy !! 

Toward the end they always cashed their paychecks out of the till because they always bounced. 

First of all figure out what the market rent house and get the rent to be a lot less than the payment that you're giving himUsing just big numbers 500,000 sales price given 510 for the property market rent is 2000 give them 1000 for installment sale paymentLook up the imputed interest tables on the IRS websiteShould be able to go to Bankrate.com to figure out at that interest-rate at that payment at that bounce how many paymentsKnow that you got your offer and you're paying more than the appraised value but you're turning the property not into a rental for him but you're turning it into a private first mortgageTo answer your question about who drives them, I would go to a RMLO or a notebook broker, and use a  title company for an installment sales contractOn installment sales contract I would just write "the vendee agrees to use property as a landlord and not a tenant and Dodd Frank Law (spell out the exact name of the Dodd Frank Law) does not apply to this transaction.

It is also not a bad idea to bounce it off your CPA or attorney setting up you LLC to ensure that the contribution of the LLC are properly setup.  

What matters most is the lesson you learn from those mistakes and how fast you can bounce back from them.

Being able to roll  over to another professionals office to bounce around ideas and help each other's businesses can have fantastic synergistic outcomes.Keep me in the loop.

I ran a "check this price"comp on zillow then bounced it off a few other websites and it averaged about 100k but I trust you guys.