When you have something that even just smells like a deal, call someone, call me, call whoever you see here on BP and ask them to go with you to look at the property.

Licensing is a component that may be required of a seller, if the regulatory body in their state deems them to be "habitually" providing seller financed mortgages.Here is some comments on the topics put out by NAR...their conclusions and opinions are just that...their conclusions and opinions.SAFE Act Final Rule: Seller Financing and REOs The SAFE Act requires licensing of loan originators under state laws that meet minimum federal requirements.

That is convenient they're referring to this section and perhaps there is more detail that you did not include but it already smells funny. 

I would strongly recommend if you are getting in to this world that you look at the calculators that BP has and start running the numbers on all sorts of houses to start to figure out what a real deal looks and smells like.  

But I'm focused on expanding so I can present in the home, not just a body, as @Joshua Dorkin said on the podcast.

I couldn't stay in the house for 5 mins because of the smell.

I've been in homes that smelled pretty good on the day of move-out but two days later reeked of animals or smoke!

Bad idea, outside of the "smell test".....depreciation is just basically an interest free loan, if you don't 1031, since you pay back 25% on all those deductions when you sell.  

I have been in many homes where some of the other signs ( smell of rotting eggs, corrosive bath fixtures, corrosive AC )  do not exist.

At least from the attacks I received here it has the smell of taking it personally.Best!