Quote from @Jared Haxton: Hi BP Community,I own a 2-bed/2-bath condo in Prescott, AZ (near Embry-Riddle Aeronautical University, hospitals, and medical facilities), and I’m exploring selling it via seller financing.

If none the file will be suspended or denied.If you have any questions feel free to reach out since mobile/manufactured are very complicated if you do not have all of the facts.

Capital gains are calculated as:Sale Price - (Original Purchase Price + Capital Improvements + Selling Costs) - depreciation (if applicable) = Capital GainYour mortgage or HELOC balance does not affect this calculation—it only determines how much cash you take home after the sale.In Massachusetts, if the home was your primary residence for at least 2 out of the last 5 years, you may qualify for the Section 121 Exclusion, allowing you to exclude up to $250,000 (single) or $500,000 (married filing jointly) of the gain from federal capital gains tax.

@Morgan VienCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

I have a home in Flagstaff, AZ that is on 2.5 acres and backs up to undeveloped state land. 

If you just have one rental you can probably get by with generic tax filing software.

If the seller files for bankruptcy, that will involve you in a legal proceeding.

and here is a link to the files for contracts: https://www.biggerpockets.com/files

No I drew up my own contracts and filed the paperwork myself

They’re “meaner” than me so they charge late fees (I get 1/2), file pay or quits, and increase rents faster and further than I would.