Yep no problem there as long as things line up timing wise.

If it was 20 years ago and they had the same name, its gonna be an uphill battle to go back now after someone has been paying taxes on a property and probably upgraded it during that time.

For the longest time, I almost always bought locally. 

Mortgage recasting, also known as re-amortization, is a process that allows homeowners to lower their monthly mortgage payments by applying a lump sum toward their principal balance.

I have more TIME than CASH.

First, congratulations it sounds like your first deal is going well and is hitting your targets for cash flow, renovation timing, and hopefully budget. 

One time when I bought on owner financing, I totally forgot that I didn't have property taxes included in my interest-only payments to the seller. 

Now I feel it's a good time and I just don't want to wait anymore. 

The time to close might be harder I would look at heloc.

Parents ask all the time where to stay.