If this is the case, would the original seller financing have to mention that the buyer (me) can re-sell the property at any time? 

For a $100,000 loan, we would have to charge 2 points ($2,000) for originating the loan.

Now, I’m ready and eager to meet new people and make the most of this incredible community.A little about me: I’m originally from Tulsa, OK, but relocated to Austin, TX, four years ago.

A deal this small wouldn’t make sense as a partnership unless the original intent was to scale and grow together assuming this deal works out.In regard to the financing, if you can’t get it on your own without someone else’s balance sheet and income then it would be very difficult to untangle that partnership since he’d be a personal guarantor right along side you.  

I would like to purchase another property so I looked into a heloc and a cash out refinance and it looks like I would qualify for about 75000 max which would be enough to put a down payment on another property and rehab it, but I still haven’t paid myself back from the original property rehab.

April is the only real low month.It's a funky place -- essentially a 5 room motel (originally built 1959) with a manager's unit (built 1984) tacked onto it. 

Yes this is possible.Go check with your original lender on the first property if you had one. 

The factors to consider are your overall objectives, your credit score, DTI and personal financial condition I recommend you find a broker or originator whom you can trust and have them weigh your options.

Permitted or not, you want 100% assurance the property is within building code standards for the year it was built, and for any upgrades/ changes - the years those upgrades were made; ie GFICs in wet areas currently, but not required in original construction back in 1950 when they didn't exist.sorry for not replying earlier, I'm rarely on this platformbest of luck on the project

Your name and credit would stay with the existing note, which you would keep paying on - ideally yourself with money you receive from the "buyer", because if they don't pay your credit is wrecked and your house is in foreclosure.If you search on here you'll see everyone and their brother looking to do Subto and it's a nightmare unless the buyer has the funds to pay the note off if/when the original lender figures out you don't occupy the property any more and are attempting to do what you want to do, since most loans are going to specify that performance.