We had this happen by one of our mobile home communties.

Kama Ward,I'm not sure about North Carolina, but when I was in Florida, I went to a Seminar concerning purchasing a home, from HUD.According to the "HUD" specialist, if the closing is extended due to HUD, request that the "additional" money ($25 per day) be returned at the closing.

Anyone making a loan whether bank, private or hard money lender - they will all be concerned about one point - can you repay the loan.

While a closing agent is not required to tell you everything they know, they do need to answer questions that concern you, so just ask...In this case however, the seller was your mentor, so you had knowledge of how the guy operated, at least the types of transactions he used and seems to me that in itself should have been fair warning in dealing with him in the first place.

While this isn't technically your issue (the seller pays the commission), if it's an owner finance deal, the agent may be concerned that there won't be enough cash available to get paid, and that could be hindering his/her earnest attempt to get your offer accepted.Btw, if the listing agent refuses show you the property, get your own buyer's agent.

The house is set back from the road by about 50ft, speed limit of the road is 25 so I was concerned about noise a bit. 4BR, 1.5BAWalk out basementI'm looking at renting long term but living in it short term and subletting a room.

The inspections are no concern, atleast we haven't had a problem with them.

I am concerned because in case I want to sell the house at some point, I'd like to reduce my capital gains taxes as much as possible.

The current lender I am talking with stated they are only concerned about the income stream of the properties which is encouraging but I want to make sure I am moving in the right direction and taking full advantage of all opportunities because 30yrs fixed at 5% sounds much better than an ARM after 5yrs.Thank you for any feedback, this community is fantastic!

(assume that I'd be able to get qualified for the loan and that it would be "reasonable" to be able to pay back the 40K in the time specified)after re-reading, i assume the investor would need to be a lienholder from the beginner under any circumstance...but is that even possible, or would I have to buy the house "with" the investor, which i'd rather not do...also, do not dwell upon the legal details of the arrangement, i have people that I could do this with on a verbal contract not to mention a seperate written contract that protected their investment+interest in the event I sold the property for a gain...I'm much more concerned about the actual numbers/percentages and how realistic this proposition is from an investment standpoint, not a legal one..