They saved up money, bought a nice house in a local neighborhood they believed in, they rented it out over and over again, and learned from their mistakes.Don't make it so complicated.

However if are dead set on Owner Financing, you have to get get 20% plus down payment and if you are in Florida, you have to deal with a Judicial foreclosure process which is not nice to Lenders, I would highly recommend against it.

If there were any written agreements between the developer and either realtor, the terms of those agreements would come into affect not that complicated.

@Farnaz Z. so... it's complicated.

Namely, these 2 key bits...(1) Even tho the ownership test is only required of 1 of 2 spouses, the residency test is required of BOTH spouses if filing jointly, which we were planning to do.... yet my wife did NOT live in the house during the past 5 years, which means that we'd have to file separately and will definitely complicate things quite a bit, but if it's worth it.... then, well, it's worth it!!

Such a complicated approach to a relatively easy situation.Definitely think that paying off the mortgage is pointless if he's just getting another.

This is not complicated folks, what happens as affordability to OWN your home decreases?

I understand this is a complicated process, but I’m excited for the challenge.

Honestly, you should have just stopped at Facebook.There’s nothing quite like receiving an unsolicited online message, random proof of funds, complicated background story, sketchy work locations, and a foreign accent to scream scam any more loudly.

If you are the LL, either an attorney can write one up pretty quickly if it's a complicated lease with special provisions, or your State Association of REALTORS should have a promulgated form you can use (I've had people pay me $150 to write on up for them in Texas where I'm licensed).