If it truly is just the paint and carpet and outdated but functioning bathroom and kitchen, a conventional mortgage should work as long as it appraises at the right amount, right?

This is the 1st time ever I am writing on any such forum!

ChatGPT: Write rap lyrics about using a wraparound mortgage in a profitable deal.Got the seller financed, wrapped the old loan,New buyer in place, and the cash is grown,Interest spread wide, I'm collecting the flow,Passive income stream, watch my portfolio grow.Wraparound mortgage, making money stack,Flipping properties quick, never looking back,Profit in my pocket, strategy on track,Real estate mogul, and that's a fact.Analyze the numbers, every move precise,Minimize the risk, maximize the price,Equity's the goal, profit's on the rise,Wraparound mortgage, got me reaching for the skies.From the first payment made to the final note,Wraparound secured, watch the market float,Negotiation skills, deals in the bag,Success in my grasp, wave the victory flag.

That said, IF you were to enter into an agreement with the tenant for services, it needs to be in writing and signed by the tenant.

Hey Andy - If you use the search function and query arbitrage you will see dozens if not hundreds of posts on this. 

Maybe if it was furnished as STR they you might have $50,000 or whatever to write off. 

Write the tenant a warning.

If it's not in writing it never happened!

The feedback I usually get is that buyers wanted to assume the loan but the process was lengthy and complicated, and buyers eventually moved on leaving the seller with no equity and option to sell other than writing a fat check at the closing table since they had to continue to lower their price.

When you write a post, in the bottom right (above the cancel and post reply buttons) is a box that when checked says notify me when a reply is posted...uncheck that box.