always happy to carry on the Conversation, especially if I can help with Fresno RE.  

Also, think about a longer STR to start if it will carry you - like a 13 week rotating nurse or others who need to be in your area for a month or two.

If you are going to rehab the property before you lease it, you need to plan on carrying costs for the time it takes you to rehab.

Meaning -- Can I structure this to where the buyer gives the seller a downpayment and the seller carries the remaining note for a short time -- with monthly payments to seller -- while the buyer finishes the remodel to their cosmetic liking... after which the buyer can get a traditional loan and pay off the seller in full? 

I hope a fair system is implemented that rewards contribution instead of arbitrary unwritten practices that are being carried out now. 

Depending on the work needed, perhaps you can live there for most of the time while things are getting finished up....and hence, save on carry costs since this will be a roof over your head  as well. 

You could always carry the note with a strong down payment.

A Payment Schedule should outline Payment Milestones, Amounts & Terms which describe the work that needs to be completed in order for the Contractor to get paid, how much the Contractor gets paid, and when the Contractor gets paid.Form W-9You will need to get a W-9 from the Contractor so you have the Contractor's Name, Address & Taxpayer Identification number which will be used for preparing Vendor 1099s for your Contractors at tax time.Proof of InsuranceBefore hiring a Contractor you need to make sure that the Contractor is carrying the proper insurance to protect your property, investments & personal assets.

We are also demmed the condo owner so we are responsible for mainiting any common areas and also have to carry a HOA insurnace.

I buy and hold..flip..and carry notes.