Verification of income the property generatesi'm probably missing something with regards to due diligence, but once that is complete and you have an agreement in principle on the seller financing terms have an attorney review before signing on the dottled line

I have harped on this point continually, but many investors limit themselves and their wealth building because they do not educate themselves on three foundation principles necessary to understand and utilize the most effective wealth and estate building tactics and strategies in real estate.

If it were me, I would think about 3-6 months of principle and interest reserves plus reserves for repairs/maintenance.

I have a great locked in rate and want to use it to my advantage - without doing a traditional sale.Has anyone - or is it possible - to sell my own house utilizing the wrap around mortgage principles?

These are professionals with additional training and a stricter code of ethics.

If it is not up to today’s standards, and the tenant was not informed of such before he signed the lease, then ethically, if not legally, it’s “on you”.  

These are professionals with additional training and a stricter code of ethics.

Given our higher insurance costs (usually 0.7% to 1.0% of purchase price as a rough guide -$291/mo on low end) and property taxes (typically between 0.5% and 0.7% of purchase price as a rough estimate -$208/mo on low end) that leaves only $1489 for Principle and Interest.

The individual who owns the real estate in their personal name  but understands these key principles is also better prepared to address any claims or conflict if and when they arise than the individual who owns their real estate in an LLC and ignores these important operational functions. 

David, you guys are ethical in your approach and business practices and I love that about you guys.