I never used a tax pro because extensions are so common. 

Any attorney general is going to frown upon this seriously.Contracts for deed are not what they used to be.

I like the Unofficial Guide to Real Estate Investing.

Good luck with getting this tenant to accept higher rent, because you've trained your tenant to think they have a "mortgage payment" that never goes up!

However, there is a specific deal Which I find hard to understand the ARV for.It is a Single Family Home, 2 Bedroom 1 Bathroom, 850 SQFT.These two comps have a price gap I find hard to understand, even when considering the difference in renovation level.If anyone knows this market well enough to understand the cause of this difference, and if it might be due to an issue with the location, or if there is anything I am missing.Comp 1 - 1011 Elm Street, Burlington, NC, 27217 (120K)Comp 2 - 1109 Walnut Street, Burlington, NC, 27217 (120K)Comp 3 - 1505 N Park Ave, Burlington, NC, 27217 (180K)Thank you!

I’d suggest beginning by connecting with an agent who specializes in multi-family properties.

This arrange that you will have will likely be a headache(major assumption on my part).First - Do not do business with a friend. 

Is this doable? 

When do you think it was more difficult to find a "deal" on real estate, in 2011 or 2019?

This structure probably just means more grey area which means more legal fees and perhaps less chance of either of us being covered at all.