Daniel: part of the answer to your question involves why you need the 500,000 of insurance on your life.

This is a professional business were involved in.

Hi everyone, I've done a few deals but never one involving an owner contract.

The agents involved might end up taking a note (IOU) for their fees, to be paid when the tenant/buyer actually buys.

They explained that with buyer and seller involved the fee is twice as much.

As I am certain you know, there are many factors involved and I would have to believe that a market strategy would be relative to the particular place in the market where the home fits.

This pricing might not be all that bad depending on what they had to do to the line to move it and work involved."

A lease nor any option is required to go to any title company for settlement, just underlines the fact that people don't know what they are doing and think they are spreading the liability in such dealings by getting others involved.

If there was a Hall of Fame for investors, Lonnie would probably be in it.It's too bad too that so many following this scheme did so as preditory dealers to the extent of having federal legsilation adopted to restrict the practice.I guess the best way to proceed is to make enough on your fist few deals, maybe sell the notes for cash and pay the fees to become a licensened mortgage originator and a dealer, otherwise you'll be limited to conducting business.BTW, Another similar "system" involves selling land, if it's zoned residential or can be used as residential raw land, it also falls under the SAFE Act.

However, IMO you have a moral obligation to work with your tenant/buyer and try to get them in shape to refinance at some point, possibly a LOT more involvement than you wanted.Just be careful not to generalize on an area as a "high crime, low income" area.