I follow Dodd Frank, I use an RMLO, I have a title company close the sale and offer title insurance.

Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

We also own an accounting/payroll firm and have a lot of MHPs, residential communities and apartment complexes as clients and have seen this happen a few times. 

Build up your portfolio with a professional landlord and then as your portfolio grows transfer the assets over to a larger PM firm for ongoing accounting and management. 

Insurance companies are always looking for MTR that are furnished like ours  never stays vacant more than a week.

Will look to refi next year and get all our cash back (have 1 year left on generous seller financing)Failure: still battling a tenant eviction industrial property, costing me money (I can afford) but time and my energy (not a great use)A ha moment: just to focus on higher equity slugs into fewer deals, the law firm is #1 for me2025 goal: complete exit, closing Jan 9, keep making offers, grow the law firm with less billables

Now a-lot of times you buy a home from someone with seller financing and they hold the note for 6 months to season it and then sell the note to another investor or a firm and then it will most likely show up on your credit because these are more sophisticated investors.In regards to the benefits of owner financing you won't have to pay closing costs to a bank.

Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost. 

You can also write off expenses such as property management, insurance, repairs, etc.