There 4 types of income from real estate, appreciation, cashflow flow, principal pay down and tax write offs.

Even if what I wrote was a bunch of nonsense, do you realize how rude it is to write "I find it difficult to take the whole thing seriously".

Meaning will it wipe out the majority of your write-offs moving forward?

I appreciate your perspective and time writing this up!

If you purchase a property, many of the costs on the closing statement are added to your basis.There may be some items that are eligible for an immediate write off such as pro-rated taxes, interest, insurance and hoa dues.

Look up my "I want to be just like you" handwritten letter that you can write.

Thanks, Gary Neely Gary, Just use you standard state contract and write out the terms of your seller financing in an addendum or on the OTP itself if there's lines for additional provisions.Be clear and concise.Example,Seller will carry a promissory note secured by a 1st position mortgage in the amount $97,583.00, at 6% interest, amortized over 30 years, witha a maturity date and balloon payment due 10 years after the closing date.Hope this helps and certainly get an attorney involved if you are not comfortable drafting the language.  

@J Corona they can write a check for the rent on his behalf.

If it's a loss its a loss, maybe I can write it off on my taxes or maybe our story saves others from a similar pain.

It takes several hours to write the Skeptical Dude article, and they will always remain free.