You have to bring suit to find out.For those that recall the environmental contamination days banks or lenders faced, they didn't want to touch the collateral until after the laws changed relieving them of clean-up obligations.

We prefer to build our business in our own back yard where we know the neighborhoods.My children are put to work doing cleanup and renovation, learning the skills of the trade.

Originating a new note to extinguish an older note that was purchased with a discount is consideration received for the discount, taxes are due.As to integrity, yes, that could go either way, the MLO is required to originate to ensure the borrower can meet the terms just as they would have the opportunity to do so in a conventional loan, if he skews too much of the deal it's his tail.I gave instruction to a group and got them started in seller financing new construction sales and placing the notes as collateral for future financing, I can see where a MLO would naturally give consideration to a contractor who was flooding him with business, but to a point as the borrower needs to "qualify".If you got the seller to make a new note after closing, along with a new DOT, through a MLO then yes, that would clean up the note for the purchase.

I have not raised the rent on the tenant and he has been helping clean up the house of his own accord.Now here is my plan, tell me if I am crazy.

I just made $60 for myself in roughly 30-40 mins.Then you can pick up bark multching jobs, raking, spring, fall cleanups...etc.I know it sounds foolish to go back to mowing lawns.

Taking a look at it from a tenants perspective, would you appreciate your landlord cutting corners and ending up with sewer issues, potentially ruined belongings, a mess to clean up, having to deal with that home environment etc etc???

Most scrappers do not have liability insurance and will leave you with a mess to clean up. 

I am quite familiar with the construction/ clean up side of things but new to the rest.

It’s a great start to clean up certain areas.

It would be tough to cover this and the down payment because it would deplete all my funds.