Here are the key details of my situation:Rental Property Details (Note: This was our primary home till 2017):Current Value: $970,000 to $1MPrimary Mortgage Loan Balance: $505,000 (@ 2.6%)Took Home Equity Loan on this house to make down payment for my current primary residence.Home Equity Loan Balance: $123,000Total Loan Balance: $628K (Primary Mortgage + Home Equity Loan)Rental Status: OccupiedPrimary Residence:Purchased in 2022Mortgage Rate: 7.3%Current Loan Balance: $650KMy goal for 2025 is 2 fold: #1.

Paid $50k down took out an owner financing note for $112,000 and a mortgage for $743/mn Front home rented out for $1,200/mn and back home rented out for $900/mn (currently on the market for sale).I wanted to give some feedback of our deals prior to digging in.

Six months later my insurance dropped me and here is where it gets sticky.

It does not appear the lender used an attorney to draft the note, as its the worst note I have ever seen for a $2M loan.Lessons learned: if you want to be a professional, then act like one.

I have only sent a hand written note twice and it did get a response both times.

But on that note I do use about 4 different data sources for comp'ing the property's rental price estimate for my clients.

I want to note that there are additional lending guidelines that are required for these types of homes, and will highlight some of those key differences.So first, what’s a manufactured home?

Then for phase 2 you raise $1.6 million and pay off the phase 1 note holders.2.  

Note 100+ days ago was late September.  

If you find a seller willing to carry a note, you might be able to negotiate an arrangement that works without needing traditional bank financing.Another approach would be to partner with someone who has capital but lacks construction expertise.