This is what Ohio is doing with land contracts which the reason they are done in Ohio is because of the excessive cost and time to foreclose.

It really makes sense on commercial properties with acquisition price in excess of $500,000 and some to major rehab having been done.

@Brad WarshawFrom your other thread:"I bought a condo at the auction that has water damage and mold in excess of 15k to repair."

I bought a condo at the auction that has water damage and mold in excess of 15k to repair.

But with that drying up and the glut of buyers and aspiring wholesalers there are way more buyers than deals.  

Your total debt will be in excess of 500k..

Separate utility from excess & bling and stop trying to impress people that don't matter (like strangers on the freeway looking at your newly-leased $700/month Mercedes - foolish!). 

Failure to follow the dispossession of security deposits in Georgia,  can open you up to being on the receiving end of a judgment in excess of the original deposit.You now know that "humanitarian consideration" is costly and isn't good business.  

Dry rot possibilities and fire protection systems.

If it was my money only in the deal, and if she pays on time, gets along with the neighbors, doesn't call me to come fix every towel drying bar that comes loose from the wall - and her "hoarding" doesn't cause an insect or rodent problem, I would probably let her stay for $325 because I'm too nice and i like long term tenants even at lower rates.Maybe she would become my first Section 8 renter ever if Section 8 paid more than $325 in that area.