If there's no stipulation, then it just comes down to what you want to do.

However, it seems you cannot own another property unless certain stipulations which we do not meet.

The FHA loan stipulates that I must own it for a year and a day before I can sell it.

I am not in my office so I will have to get back to you on the interest rate.The house appraised for $256,000 and I believe the payoff is around $190,000.The rent to own contract stipulates that if the house is not purchased from the Lender/Owner by the beginning of November the Lender/Owner will deduct another $5,000 from our approximately $23,000 of down payment.

As a stipulation to their inheritance their mother had to live in the upstairs until her passing; their mother just passed away.

Let me jump in here to say that my experience with my PM (Midwest Realty) in Cleveland has been positive but have to stipulate that they are not for everyone as they only will take on mid and larger size (lets say 10 units or more) portfolio (SFR or MFR) which eliminates the majority of OOS investors.What OOS investors with only a few doors put up with (service levels & costs!)

I don't know if short sales have a special stipulation, but in general, selling to a cousin would be considered an arms-length transaction.

You need to stipulate that financing is assumable, such assumption not being unreasonably denied, allowing him to "qualify" that borrower for rate and terms and to what extent (LTV).I don't think you have a deal here right now.

I think in my state, there is a law stipulating that in buildings over 5 units, landlords must maintain an escrow account with the security deposits and pay tenants interest.

You have options, it's possible to convert a 401k into a self-directed IRA and invest in real estate, but there are stipulations.