If you're getting any kind of owner-occupant loan, FHA or conventional, you'll need to send the letter the notice of eviction as proof that you'll be moving in.But again: use BP to find an agent who's done this already.Good luck!

Further, how do I demonstrate proof of funds on a HELOC (ie, the equivalent of a pre-approval letter for a loan)?

I'm unwilling to spend thousands per month on advertising, letters, and lead generation.

I am drafting a letter now and will definitely be dropping it at the door when I visit the property today. 

Essentially they're a letter the seller puts together for each tenant stating the basics - whether they have a lease (and its termination date) or if they are month to month, what they pay each month and whether they're current on those payments, whether they have a security deposit (and if so, how much), whether they have a pet (and its breed, name, & age), whether they pay extra for that pet or have a pet deposit you'll have to refund, etc.

After 40+years we are selling off a number of properties (4 this month) to younger investors & hold most of the notes (9.75-12%) with 5 year balloons.

just got a letter from rent board saying we evicting our tenant, which is false we never said or write that to them. so on the letter we write disagree and the reason. do i need a lawyer for this?

One being to have a balloon payment but amortize the loan over a longer period.

But it definitely works around the w-2 income problem, so that would probably be worth it.As for purchase price, we’re already going the seller finance route with a six month deferral on payments and a five year balloon, to make the renovations less impacted by initial cash flow.

Purchase price: $100,000 Cash invested: $6,000 Sale price: $189,700 Purchased townhome with 5 year interest only balloon loan for $100,000. 3.5% interest.