For example an investor cannot have a business on the property that engages in any of the following “sin” businesses: any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack or other facility used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.With these factors in mind, I would think caution would be in order for any investor looking to defer taxes through this program.

Thanks for the info, had been very helpful.Now if I set it up as a Rent to Own (in the future) instead of a seller financing/land contract, would I be able to avoid going through the whole foreclosure procedure as mentioned above, and be able to file a regular Eviction? 

The answer to that would require a lot of typing as you want to know about their software, procedures, experience, reports, and many other things.

In addition, the underwriter will order up the court file for the quiet title lawsuit and make sure there were no procedural defects that would have deprived the court of jurisdiction.

Understand your state's laws and procedures for regaining the title if the buyer defaults.

I can't imagine a better paying job than making great housing for great people.I love learning the rental processes, laws and procedures that make up this business.

What is going to be your procedure for regular inspections?

Everyone wants to go hard ball process and procedure no compromise with contractors but the truth is that for a lot of us small business investors a couple hundred dollars to a tried and trustworthy member of your team will pay dividends ten fold over the course of your REI career.

Is this Standard Operating Procedure? 

It’s a process and to have check lists and procedures in place gives a much higher probability of success and wanting to do more of them with less hassle.