You use this to determine your gain on the proceeds you receive over the course of the payments.Year 1: $50,000 received: 50,000 * 0.8333 = $41,667 Gain recognized (as discussed and proven above - no ordinary recapture)Years 2 - X: Interest received on the note outstanding is taxed at ordinary rates, but this is not gain on the sale of the property and was never part of my original posting about the gain on the sale of the condo.

On the title end A warranty deed and title insurance should cover you so long as you make sure there are no outstanding liens

Richardson has the added benefits of 1) predominately voluntary HOA's, 2) much lower property taxes than areas like Southlake & Highland Park, 3) moderately priced homes, 4) outstanding employment and growth opportunities.Grapevine/Colleyville would be my next choice. 

@Gina Dowdy outstanding and great info Gina.

As individuals of such outstanding moral character, humility, and humanity, they are totally correct to threaten you and your heirs, be hostile to everyone they meet, obstruct the people there to help them, and demand your head on a platter.These tenants sound like they are members of the "This is totally unacceptable!"

Todd-Assuming you have no credit card balances or personal loans outstanding (these should be paid for first) you should not need to make extreme changes but it does require you have discretionary capital.If you make $4K a month income and your monthly nut is $3K, then you have $1K in discretionary.

I think @Seth Williams Seths blog has been outstanding.

I don't like the idea of accepting tenants with lots of outstanding judgments.  

Only cost me $75 for the loan fee from the 401k administrator (and I guess whatever lost gain in the 45 days the money was gone - however the stock market did not go up more than the 3 or 4% interest I had to pay to myself during the time the money was outstanding.The company I work for will allow 3 or 4 loans outstanding at any one time.  

Most people don't base their entire decision on the SmartMove recommendation as you should take into consideration their payment history, number of tradelines, outstanding debit, etc. in my opinion.