We have had no luck contacting the bank because technically it’s not “our” mortgage so they cannot give me any answers.  

Definitely understand the frustration of your seller financing issue.

So technically I guess it is multifamily, but sold as single family.   

@Chris Holmes Obviously this community is heavy on REI and group think issues.

I've used various types of lease formats for different owners, and have never had an issue with the lease format for either one of the housing authorities in Dauphin county. 

I would like to hear from "PEOPLE WHO HAVE DONE THIS"  type of flipping / buy-n-hold, as well as the pros and cons of doing so.The first issue that comes to mind is where to get funding on a property with such low entry value.Coffee talk amongst yourselves and get back to me.

I am fortunate to have a very good paying job, so saving for more investments is not an issue, and the risks I’m willing to take can be a bit higher than the average beginner in real estate.

If you give up a little on the front to acquire a nice longer-term asset for your portfolio, the price becomes less of an issue. 

Also Zelle doesn't allow for the ability to individually enable/disable a tenant in the system.Money orders require driving over to pick up, or the tenant sending them late and then the late fee issue is still there. 

The only issue we had with our last build (outside the normal issues associated with rehabs) was delayed time.