They just see the 13% and think--excellent--- lock it in.

These are very reliable buyers and they are experienced in renting and self-managing other properties, so it is all going very smoothly.  

Finally, I had to cut ties with the original contractor, get him to leave the house, change locks, put internet, surveillance systems, cameras and blocked him. 

Lock up the property and find someone who will. 

With many seasoned real estate investors locked into low first mortgage rates and large equity positions, many borrowers and investors have been exploring tapping second position loans like home equity lines of credit for reinvestment capital towards down payment or rehabilitation funds. 

The way I heard it explained is that you take over the existing mortgage and then you can either rent it or transfer the mortgage to someone for free but the videos I’ve watched never say anything about giving the seller anything other than money down to lock it up.

That's why I'm intrigued by the reliable returns on notes, albeit lower.

.* Appraisers with lack of skill or motivation (due to their low fees received or charged) which deters them from doing the work required for an reliable valuation.* Residential properties (2-4 units) are mainly valued by sold comps and not with the income approach, since these properties are typically not purchased for their income potential exclusively.* adu/jadu's add contributory value to the property as a whole, which may or may not = the cost to build them.

Not looking for free advice, but reliable advice and an ongoing relationship as we travel this path. 

This forum is a good place for sharing both positive and negative associations.Finding new and reliable sources is always a difficult task.