Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller.

Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller.

Worst case, it gets outlawed in a town AFTER you’ve bought a place there & now you have to sell at a HUGE loss bc there’s no buyer demand once STR use is banned!

At the end of the day, the sellers looking to transact in creative finance transactions are normally the owners of real estate that cannot sell easily in an arms length transaction or are gouging  the buyer on price.

I inherited one tenant when I bought a property that the seller moved in right before I closed.

Many lenders, including Wells Fargo, may consider it a due-on-sale clause, which could lead to them demanding full repayment of the loan.

I also suspect the seller's friend rented the other unit because the rent is cheap and the landlord is a pushover.I would look at this entire situation carefully.

so i only BRRRR or buy on seller finance. 

I'm curious about the amount of seller financed properties being transacted in the area?

Very few sellers will consider creative financing in our area which is west coast.