I would add a caveat that you could break the rule of making mortgage payments IF that was the only way to get the loan and in doing so, I would want to negotiate a lower rate or lower loan costs.I would also add that you can legally have two or more (you should keep this number to 5 or less) lenders on one note, it is called a fractionalized note, but keep in mind there are rules to follow in doing so and you should ONLY do that when a licensed broker is brought in to facilitate the transaction.most important rule mentioned is to tell the truth and I would add to that, ALWAYS perform and pay back the money, even in the event of a net loss.

In the last month and a half they have patched and finished all of the drywall in the house, textured the ceilings, prepped the kitchen for drywall, facilitated the kitchen drywall and plumbing, did a thorough cleaning in the house to remove all of the dust and debris, and have started painting this last week.

I'm hoping to both do a community service and make a bit of income by facilitating more insulation and other energy enhancements during home flips.

I want financial freedom and a large enough passive income to facilitate freedom of movement and action.

But if you did find another flip that is the EXACT same numbers but have to go hard money since it won't be financeable otherwise (Even if you could get a conventional loan you still need to pay for the rehab), you can use that money to help facilitate getting a Hard Money Loan.In that case you buy it for $66K and put $25K into the repairs.

Right now I just work through a realtor to facilitate these things but I know that I could be much more efficient and effective if I was licensed myself.

Tougher to do without cash from the buyer, unless you can bring your own cash to facilitate the upleg of your exchange.

Facilitate/Manage rehab, lease, rent/sell...That's how I carved out my percentage.

Just because you can get someone to agree to something doesn't mean you can get away with it.I'd be fine too at a 5 to 7 year balloon, made many, probably most were 5 years, but the term needs to fit the situation in seller financed deals, it's not a loan product as much as an arrangement to facilitate a successful transaction. :)

Tenant has a disinsentive to facilitate the sale of the property.