An architect will be able to answer those questions and perhaps be able to identify other physical and economic obstacles that won't arise when merely approaching this through the lens of whether you can obtain a zoning permit.

Hello @Anthony Abruzzo,You have some great advice above and managing your own property from another state is definitely doable if you the network in place to address problems as they arise!

Be aware, they do not practice safe creative financing nor do they understand how to deal with the problems as they arise.

They handle:Monthly Payment ProcessingEscrow for Taxes and Insurance: They ensure property taxes and insurance are paid, which is essential to protect your interest in the property.Record Keeping: They also maintain records, which can be invaluable if any issues arise during the term of the loan.ConclusionGiven the details of your property and the $200,000 sales price, a possible scenario could look like this:Down Payment: 10% ($20,000)Loan Amount: $180,000Interest Rate: 8%Amortization: 30 yearsMonthly Payment: Approximately $1,320 (principal and interest)Balloon Payment: Due in 5 or 7 years (this allows for refinancing or payoff while giving you some flexibility).These terms are flexible and can be adjusted based on the buyer’s credit, down payment size, and negotiation.

Hey @Devin Bost, I would highly recommend a few things to help with this. 1) Have systems and processes lined out for any emergency you can think of.2) A spreadsheet of subcontractors/ vendors that could handle the situation that arises (plumbing leak, electric out somewhere, etc.)3) Your cleaning team and handy person should be utilized for some things.4) Something like Breezeway can give you 24/7 support around your property with a dedicated phone number line.

The use of actual cost records in this approach contributes to the overall accuracy of cost allocations, although issues may still arise as to the proper classification of specific assets.

I'll continue to pay down my debt, save, watch my market for a fourplex and see if an opportunity arises.

Again, not to split hairs, she's exercising her rights that arise because it's his homestead not hers.Generally, a deed is prepared showing the grantor's marital status. 

I am of an age that I don’t want to fight those unnecessary battles when the problems arise.

The concern arises when you're acting as an agent for others—there, the law is stricter.Since you plan to use the agreement for future properties too, it might be worth getting legal guidance upfront, even though the $1000 fee sounds steep.