And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

Banks and institutional servicers are not usually willing to get involved and assist customers and stick to the servicing agreement to the letter to avoid liabilities, and that makes good business sence, but we adminstered deals that were underwritten and failure was not an option!

or do i have to sign a month-to-month agreement? 

This is purely an assumption though and one that can be confirmed if reviewing the operating/partnership agreements.

Today, I wanted to chat about something that's been a major topic of discussion in our industry—the recent NAR settlement and its potential impacts on real estate agents.For those who might not be fully up to speed, the National Association of Realtors (NAR) recently reached a proposed settlement agreement related to broker commissions.

How far along are you to fulfilling the initial agreement to get the 10k back?

And, they paid the back taxes before having a purchasing agreement in place.

All and all, it happens in the background without me knowing or without sending me any paperwork to inform me about these change if I want to move forward ..etcMy question for you Julie: Ethically, how can you guy make change like that without any agreement with the customer?

The developer and buyer negotiate directly but don’t reach an agreement.  

You won't have to bring any of your stuff into the situation if you're not part of the LLC and if you are, then rearrange the Operating Agreement to make yourself a 10% owner.Conway would be considered rural and your LTV will be reduced because of it, but 65% is still a pretty nice loan amount.Feel free to reach out if you need additional information.Stephanie