This is maybe the honeymoon stage for me (less than 1 year). :)

Brendan Harrison Listing agreements are contractual arrangements between the listing agent and the seller...The seller pays the commission, so if you don't use an agent it doesn't improve your position.

Quick notes about me: I was born and raised in NYC (Queens, Long Island) Current 2-family rental is in Queens Village I work full-time at a growth-stage technology company in NYC on their Strategy team My goals are to get 10 additional doors under my management in the next 3 years. 

For example if you owned your previous home, had plenty of equity, worked out a forbearance or deferment arrangement with your current mortgage company, the mortgage on the new loan was less per month than renting in your area (common in Houston) and truly have a plan for exiting the old house, as in you have the means to repair it or the equity to be able to let it go as-is and not be upside down.Or you are well within a floodplain, so you have flood insurance and you'll have a payout, maybe you've flooded before, and and it's just time to move to higher ground.

Because of the arrangement, that's more or less who this person would be at the end of the day given that they would be responsible for more than 75% of your income. 

The answers given include that the borrower is trying to arrange permanent financing so they are not sure.Wouldn't the time to arrange for permanent financing be before the loan is due?

My wife and I staged the property ourselves and saved a few thousand by doing so.

So,Mike, you say that every deal you do, is usually arranged through seller financed terms?

I have a lot to learn to get that stage and this will be first of many posts and thank you BP for giving me a platform to better understand this industry!

And if we are shooting ourselves in the foot by maintaining this arrangment and not allowing someone like Madison to collect payments, i'd like to know why.You bring up a good point that it could get messy if there was a dispute, but are there any other reasons that we should consider?