You will gain experience with each project so don't let set backs discourage you but always try and learn from any mistakes.

We own a vacation property there and our board is looking to replace our current property manager who is under performing to put it kindly. 

A few things to note-Loan payoff isn't part of the calculation of what taxable gain will be. 

The seller pays extra compensation to the listing agent who then splits it with your agent (this is the way most transactions were done before 2024.

Assuming your numbers are accurate, I'm estimating your monthly "rent" or your contribution to the monthly expenses will be about $2,000.

Then track the date a maintenance issue was reported, description of the problem, who it was assigned to, when it's estimated to be completed, when it was completed, date/amount paid, etc.It doesn't have to be fancy.

On a side note, you should be issuing "Pay or 'Quit" notice as soon as you can and quit being a "nice guy".

View report*This link comes directly from our calculators, based on information input by the member who posted.How can I get this to Cashflow?

But even then, seller financing is rarely substantially better than another investment they could make (including trust deed lending, which will often be at a higher rate than seller financing)In my experience, the owners who find owner financing advantageous are at the ends of their careers and are not interested in looking for another investment (other than the usual retirement funding sorts.)

This isnt a bad deal for someone with a SDIRA who wants to do a smaller loan amount.