We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

So I put $1600 on a credit card for a down payment and then pay $500 a month until the full amount was paid off.

I take the approach of the investor pays me a fixed fee to learn this on their own so they never have to pay me again if they don't want to.

Keep in mind of the I/O(payments/period) and game plan on how fast you'd like to pay it down. 

Your tenants can only continue paying similar rents if they remain employed at similar wages.

Use Real Estate By the Numbers as your guide, make sure it tracks the loan pay down and depreciation and have all of those numbers pour into a Schedule E.

You should never use a debit card or pay for medical expenses from your HSA, ever!

But I need a portal where I can do the following -Customize the tenant application  ( Cozy does not  allow me to customize)- Have tenant Upload Pay stubs, DL, etc. 

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.