Depends on area customs.Your instrument of seller-financing is hugely important.  

Like with any investment instrument or strategy, it does have to do with your risk tolerance, how you like to get paid, what you are familiar with etc.

@Chris Music Thanks Chris, If I ever get into about flipping, I will contact you!

FHA loan require one-year owner occupancy beginning within 60 days of the date you signed the security instrument.

I have very little knowledge about pharmaceuticals, apparel, software, mobile devices, music, precious metals, etc... so there is no way that I can make an educated investment in those other industries.  

@Joe Homs has been very instrumental in helping along the way through my real estate journey and also was there on my first time visiting the meetup! 

I am a professional musician and music teacher by trade.

Listen to podcasts instead of the same old music.   

Government does this by recording concurrent, simultaneous security instruments (DOT's in CA) to both discourage would-be borrowers from tapping the last ounce of perceived equity and if you read the HUD junior lien, it makes specific reference to such a breach.Clever hard money lenders know how to circumnavigate this issue.

Provided the security instrument that was used is properly structured.Lastly, when was the last payment made by the Borrower and I suppose while we are there, who is servicing the loan right now?