We originally used an FHA loan with 3% down, took on MIP, and now have a $2,100/mo mortgage with $225 HOA/mo - so about break even on cash flow. 

Since the original loan remains in the seller’s name, you may need a nominee interest allocation to deduct mortgage interest, as the Form 1098 will likely be issued to the seller.

@Stacie TellesMost lenders have a seasoning period (typically 6-12 months since the original loan), so check with your current bank or shop around for others.I would also watch out for prepayment penalties on your current loan.

Now his original property is less cash flow, and is his 2nd is likely negative $500/mo.

Originally posted by @Jefferson Lilly:I've been on the BiggerPockets podcast twice:http://www.biggerpockets.com/renewsblog/2015/02/26...https://www.biggerpockets.com/renewsblog/biggerpoc...... and am launching my next MHP investment fund late this month (October of '18).  

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.

Not a book but Robuilt series on YouTube by Rob Abasolo and AirDNA Podcast are great.

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.