As you know to make money you have to buy the property at the right price, which is normally well below market value 20-30%.

Keep in mind if the description/pictures show the home needed a lot of work, then the price will be lower than normal, and alternatively, if the description/pictures show the home was completely renovated, then the price would be on the upper end.

But if you offered me maybe 1500 on a house that normally rents for 1200, it would be VERY hard for me to pass up.  

If this potential customer is asking you for a one-off service that's not on your menu, they should pay MORE than your normal rate, not less.

I don't have that problem on Airbnb, everything is pretty straight forward, normally I get an instant book or someone asking for preapproval.

Is that normal for NJ?

A monetized installment sale is a way to structure the sale so that the seller can walk away from the closing with cash in hand and up to 30 years to pay all the taxes normally due on sale.

@Heather Rudy Well your capital requirements on a normal owner occupant loan are likely going to be much lower than hard money.

Normally when I have a tenant that I choose not to charge (trying to avoid drama, not enough to worry with, unsure of true cost, choosing not to replace right away), I normally list those out at the bottom in the comments section so that they and any lawyers or judges who get involved later know that leniency was granted.  

Or do I just file taxes like normal and claim the rent as additional income?