The way that we do fix and flip in Spain is with a down payment contract called "Contrato de Arras".

Here's the catch: although landlords in most cases have no idea that this is going on within their buildings AND have no equitable association with these de facto hotels, the task force is fining the landlords, NOT the tenants who are responsible.

He rose through the ranks and ended up being the President of this company and took it to unimaginable levels and one of the best visionaries in the Country.His MO was to purchase big multi thousand acre ranches and design Master Planned communities i.e Rancho California (now the City of Temecula), my home town of La Mirada, The Hollister Ranch a coastal development north of Santa Barbara and Coto de Caza an upscale private community hidden in the hills of Orange County just to name a few.Point of all this braggadocio is that had it not been for the fact that he was also a civil engineer he would have never developed the creative flair that made he and his company such a huge success. 

@Juan BravoCheck out the people @Dennis Rodriguez mentions.If a bank won't be involved, make sure you do a title search ("Estudio de Titulo"), make sure property taxes are paid and I would get Title Insurance (just to be safe and it's cheap).I don't know about any specific problems/issues/concerns with the owner financing part.

I know a South Jersey investor who owns some rental properties in Delaware due to the stark differences in taxes.  

In both instances, the intrinsic value will be the same at the point in time the option is sold.As for the optionee petitioning to annul the option, the full fee - minus any legal costs associated with (de)registration and processing the release - would be refunded (we would not reduce the amount by the time value expended ... this was suggested by counsel for simplicity).    

We can talk about what it might cost if he has to do D, E or F, but unless we do a change order for D, E or F, I expect that I will never pay more than $X.Unless it's a time and materials contract, why would I want to be given a range of prices for a specific set of work? 

Basement, .25 acre, oncul-de-sac, off-St parking for 3-4 cars, no garage Purchase Price: $148,500.00 w/ 25% down 30 year Mortgage: $111,375.00 at 4.875% Taxes: $5,400.00 Insurance: $800.00 Repairs: New Appliances, Paint, Refinish Hardwood Floors, Update bathroom toilets/vanities, Replace Gas Boil.

Ask them if they're de-scented.

That should be part of your de diligence requests in your purchase contract.