You will probably end up with one of two policy situations.A owner/occupied homeowners policy endorsed for the multifamily dwelling - I have no clue what New Jersey offers but there are carriers in Ohio that will do this depending on how you title the property.A landlord policy for all risks associated with the dwelling plus a renters policy for your self to cover your personal property and personal liability. 

The issues are numerous and go much deeper than what appears on the surface initially.Folks need to stay away thinking the can be drafting anything at all as creative financing, I say that based on experience, if it were a good idea I'd endorse it, but it's not.I don't see how a 9 year balloon keeps the seller happy and you out of court, the seller may be a great, easy going guy, his attorney may not be and his attorney will have more influence than you will.Erick, I see you're new, check out people's profiles and consider where advice is coming from in posts, it may give you greater insight to their advice. :)

Not an endorsement, just info to recon as I have no direct experience. 

@Jay HinrichsThe CA BRE ("Brokers") license is sufficient to originate and broker loans, in CA.And, if the loan is not for personal, family, or household use, you are not subject to SAFE and therefore do not need the NMLS endorsement.

Regardless, my recommendation for software would be from HouseFlippingSoftware.com -- all the apps were created by @David Robertson, a frequent BP contributor...Thanks again for the endorsement @J Scott,Just a minor correction, the website is www.houseflippingspreadsheet.com. :)RehabValuator is our main competitor and I believe they have been on the market a few more years then House Flipping Spreadsheet, but we have grown significantly over the last few years. 

what everyone that endorses this borderline criminal behavior has failed to mention, is that who do you think pays in the end for all the unpaid balances ?

Im not endorsing anyone but you may also want to look into Wholesaling inc. its 5 grand but it goes over every facet of wholesaling and allows you access to a private forum.

so one would want to pay for an endorsement when you transfer to your personal entity. 

Policy starts 1/1/15, coverage will not be effective until 7/1/16So, if the maternity endorsement is $250 per month you will need to pay in $4,500 before they will cover any part of the delivery. 

How do you cure broken endorsements and assignments?