RichThe BBQ Festival is an AWESOME event staged here in beautiful Surprise.

Anoher issue is the manager lady who is also elderly and the seller may feel some responsibility to her in keeping her on the property as the seller knows that a new owner could change the arrangement made with her, even if assurances are given.You may need to enlist the kids or a relative of the seller to assist her.

Your arrangement though promted me to comment.Basically what you have is a net listing when you sell the property.If you are immediate family members, sisters, mother daughter, you are in the clear!

That’s all for now but we are just in the beginning stages of trying to make an idea a reality.

First glance, I see a contract for deed or a sandwich lease arrangement with an option contract seperately made, assume the payments, see an attorney to draft it!

., how we wanted to live at that stage of our life.

Obviously neither arrangement is satisfactory for business use--in fact, both completely defeat the purpose of having a separate number."

Once under contract, you arrange for the one and only showing explaining to the tenant that a new owner will be buying.

There are legal issues with these arrangements and generally are not viewed as a business strategy and you may be limited by zonning issues and local ordinaces.I'd suggest you do more reading here and see the issues involved with landlording and property ownership.

Next is due diligence, many properties fall out during the due diligence stage.