You will need to continue filing a MO tax return even in loss years.Given the complexity of passive losses and state tax credits, consulting a CPA can help optimize deductions and ensure long-term tax efficiency.This post does not create a CPA-Client relationship.

How long have you been using it?

Being prepared for these hurdles can make all the difference in achieving long-term success.

If everything works out and you are dealing with a legit company this could be a great long term tenant paying above market rates. 

How long can you weather a storm?

It was held by the previous owner for a very long time, so I wouldn't be surprised if some basic facts about the house are incorrect.

Run the numbers you may do better long term or renting as a whole unit.

Many Naive subject-to first timers think that as long as they make the payments, life is good.

Because there are nuances to seller financing, a lot of space would need to be devoted to covering the subject to make sense, and that requires sitting down to a cup of coffee for a long discussion.

One long-shot option is to offer a lease at something like $1,300.