We can keep this out of the recent SAFE Act/Dodd-Frank as a commercial transaction by matching the agreement to the under lying mortgage when the existing loan may have been made as an owner occupied loan, (use of funds should be required) comingling the use of funds may become an issue.The additional equity mat be agreed separately, as another principal part under the same agreement or as a second.Here is some reading on the DIL and use of the QCD. http://www.atgf.com/tools-publications/pubs/deeds-lieu-foreclosure-advantages-disadvantages-and-draftingI agree to that the DIL should be or might be done at settlement simply as a disclosure that the lender would accept a DIL, I'm sure it could be dressed up explaining the benefits to a borrower as that there would be no additional costs and deficiency sought.

If you want to get fancy and be super happy with yourself in the future, charge yourself interest on the loan you give yourself - you'll be happy with yourself in the future.

It basically contains your name, sellers name, property and dress and legal description, your offer price and the terms including contingencies and timeframes etc.If you are pretty sure you’re going to move forward you can get your attorney to just draft a purchase agreement and save a bunch of time if it’s a smaller purchase.

I admit I am curious what neighborhood, I am up in Linden only.. i like it a lot but its not very fancy. :)

It is not an A-class property, it does not have to be anything fancy.

Also don't live in fancy world and think about all the different strategies and never even adapt and try out one.

If you want fancy custom forms, those are usually offered at added expense.

(I'm assuming it's a small place so make it something people won't mind having inlaws etc stay in - nothing fancy but do it right).

A fancy online dashboard may seem like it's all good in the neighborhood, but when things go south, you're the one left holding the bag.

What I see are, and like you said, "not just first timers", are veteran REI using every fancy "profit" term in the book, usually with future events they have no control over, to justify buying a deal that is currently bad with the hopes of it becoming a good one in the future.