There has to be an account in the middle for repairs, renovations, etc. and you want to know how that will be disbursed and if you need a workflow between you.If you decide to do it, just start small with an asset that is as close to can't lose as possible so you can fine-tune your collective process.

Just trying to make sure it isn't called due right away or in the middle of the term as then we'd be scrambling to figure out how to pay it off when we both agreed to be on a payment plan until the balloon payment at the end is due.Seller finance makes sense in where I'd essentially be the lender collecting monthly payments until due.

the book on Flipping Houses by J Scott and published by Bigger Pockets is an EXCELLENT resource! 

Hello Cherilyn,I think you have a couple of options, the good news is that they are paying you, the better news is that you are collecting late fees.1.

You are becoming distracted and diverting your time, energy and resources away from where it should be spent which is locating and acquiring good real estate and then managing it well. 

I use all of the services above, but the Expense Tracking service, also free, is an invaluable resource for my property management.

If you collected an insurance claim you would only be able to collect your out of pocket (ie deductible).

We are happy to act as our own GC as we don't have the resources to pay for a GC who would charge 20-30% to do the job.Thanks in advance for your help and or ideas.

WOULD LOVE TO CONNECT AND SHARE HOW FAR I AM IN THE PROCESS AND SEE HOW WE CAN SHARE RESOURCES.

The police & animal control are very little help because of a lack of resources... always good to see my tax dollars at work!