You pay the mortgage, they pay the rent, you both comply with the terms of the lease.On a side note, rent is not 15% above market if there are numerous unauthorized animals in the unit.  

Their program has about 50% that you read, and the other 50% is an animated man/women explaining things, which helped with certain sections, especially the math.  

Also, make sure you spell out exactly what kind of animals are acceptable.  

A seller financed (SF) note is not the same as a purchase money mortgage, it is funded by equity based on an agreed sale price, this makes it an installment loan and a different animal than a cash funded note.Institutional notes have a due on sale clause, an SF note should have if it is common for your jurisdiction but it may not have.

the biggest issues are that the available tenant base drops dramatically around October and doesn't pick up again till the end of the school year.People are no different than animals in that regard.They want to be settled and hunkered down in a property before the school year and/or bad weather starts.Quality tenants with good financial backgrounds don't want to move their families in the middle of an icy,snowy winter for obvious reasons,and good college students have already started school in August.Many of the few available tenants will have questionable backgrounds like recent job loss,previous eviction,bad credit,difficult income verification and don't make 3 times the rent,criminal records,etc.   

Hi Paul,I'm a proud eastern NC native, but must admit that eastern NC is a very different animal from the major NC markets like Charlotte, Triad, and the Triangle.

Yes we all profit from paying down a mortgage and from appreciation at some point in the distant future but until you reach that point you still need to pay the bills.Two different animals, different concept, Investing verses speculation.

Commercial is a different animal versus residential.

Pre Fab and Modular are a much higher quality product and a entirely different animal.

I accelerate slowly that's why I waited until now to say hello, but it is because of his recommendation that I joined.A bit about myself: I have lived in Massachusetts my whole life, I work in Boston as an animator for a research group at Northeastern University.