Welcome to BP Nation and thanks for the post, it was a great introduction and conversation starter.I too have a very similar business to Jason and have also considered owner carried notes, the problem (as he stated) is selling that note to cash out requires selling at a discount and that discount would typically erase the spread I generated at acquisition and rehab.Hopefully, you can shed some light on how you did this correctly and profitably.I have heard that same definition of financial freedom, however, to be truely "passive" you must be able to have that monthly check come in no matter if you are sleeping, crusing the oceans, vacationing or whatever.

IMO A shorter term just lets them off the hook, but if the hook can't be set, you don't really catch anything.You problem as I see it is you selection process and qualifying your tenants.

I guess, your problem, as newbies, is that you're scared to fully disclose your position and you feel that it's (because you don't care or don't know) necessary to decieve to get a deal through than just being up front.

I know of hundreds of properties that have been purchased and transfered into an entity and none of them had any problem. As

You may need to increase the purchase price to cover the "closing" costs if the buyer needs to pay this through their loan, but getting an appraisal to come in at value shouldn't be a problem as you bought at a discount and can leave a little meat on the bone for the end buyer so even after covering your fee they can still get it to appraise.

That's good info to know Preston.I've had the same problem as Tom.

Si tienes algun problema o duda de BP o de qual quier cosa, solo hay que preguntar!

The interest rate and principal are NOT the problem. A

not your problem. as jon said, have her call and if your lease doesn't have a lockout fee, get one in there!

This should never be a problem as you are paying the lot rents yourself, not the tenant.4.)