This would protect you from being stuck with a higher rate when the balloon payment is due.After 5 years of interest-only payments, you'd still owe the full principal.

If you were able to use the standard TREC lease agreement, there are many items that protect the property/landlord in there. 

Also from researching I was told if there are mortgages on a property at a tax sale the bank would step in to protect their investment and pay the taxes to get the property.

Sellers need to be mindful of the time value of money, using realistic interest rates and structuring the deal to protect their position, whether through securing a first-position lien or obtaining a personal guarantee from the buyer.In the end, seller financing can be a win-win, but it requires a balance.

This protects you if the lender/seller passes away or would try to sell the property out from under you and your seller finance agreement.

Additionally, some lenders may offer rate locks, protecting you from further interest rate hikes.By staying adaptable with your financing and strategic with your spending, you can protect your margins and stay competitive in a challenging market.If you need help exploring financing options for your next project, feel free to reach out!

if the tenant still refuses to vacate , what can I do to protect myself of the for an eviction?  

Negotiation Skills: Whether it’s negotiating leases, handling vendor contracts, or resolving disputes, strong negotiation skills can make a significant difference in operational efficiency and cost savings.In my experience, a property manager who excels in these areas not only helps protect your investment but also maximizes its profitability.

LLC is for asset protection NOT for tax benefit

To address potential future problems, wouldn't a homeowner's policy and/or home protection plan cover any occurrences?