If not, many will withdraw their listings by spring, content to hold for another vacation season ($$$). 

https://seidmaninstitute.com/wp-content/uploads/2024/11/2025...

This is illegal in NYS, we have looked this up and did  significant research on this and we have a law suit against them in regarding this. 

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

Quote from @John Winters: Greetings BP ~I am hoping to receive some feedback on the financial feasibility of this plan and/or some tips to improve it. 

why is this a sticky?

@Quan Pham have you investigated at all the potential increases in property taxes and home insurance (need to have landlord policy) and included them in your cashflow calcluations?

With software, it's only as powerful as its user so some clients overcomplicate things and spend most of their time trying to "fix Quickbooks".The most successful and quick clients keep it simple or keep it to their comprehensive level. 

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