As far as rate is concerned, you can usually go about two points over the current rate (less closing costs for a seller financed deal so there is no real expense there) You need to make sure the borrower can cover that.

To clear it, you often have to do an expungement or a quiet title action via a lawyer which gets expensive quickly.   

I am exiting the rental market here (love living here tho). 

@Christopher Reynolds My mantra has always been, "Live where you want to live; invest where it makes sense."

Most of your expenses on the Dallas property are property taxes and insurance? 

I believe he now lives in Portugal.

The property will cashflow around $500 a month after all expenses.  

The Board already spends funds on things owners disagree on, such as expensive vendor contracts where a Board member gets a referral fee or is part of the contract.

If you are living there you can keep the 4% rate.If you are not living there you can rent it out to pay for the property taxes. 

. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000.