Seller financing doesn't change capital gains tax generally, except only the principal received is taxable under the capital gains.

It sounds almost too good except for the PMI that I would assume you have to pay.

By the way, thanks and you're welcome :) Bill Gulley - now that BP has "vote alerts", the vote vs mention really doesn't matter much anymore, except that the vote count is visible on ALL posts you've made - so that gives readers in other topics an indication of "worthiness" of your posts.

These are motivated homeowners, many who have houses that are free and clear except for the taxes.

In that case, it doesn't seem to matter as much that it's next to your rental, except that you may have better knowledge of the neighborhood than your average purchaser.

They can make exceptions where ones selling the loans off can't because of buy back provisions on Wall Street.Also just so you understanding a DIVORCE DECREE does not absolve you of your responsibility to that creditor.

Hi Buddy, No I didn't offer anything except the opportunity to meet other local investors without requiring a membership or someone selling them anything.

Yes there's exceptions but we run a problem free rental business because we use statistics in our favor so we are willing to cross off entire counties (Clayton, Dekalb, central and South Fulton).

(ii) Exceptions The term “period of nonqualified use” does not include—(I) any portion of the 5-year period described in subsection (a) which is after the last date that such property is used as the principal residence of the taxpayer or the taxpayer’s spouse,(II) any period (not to exceed an aggregate period of 10 years) during which the taxpayer or the taxpayer’s spouse is serving on qualified official extended duty (as defined in subsection (d)(9)(C)) described in clause (i), (ii), or (iii) of subsection (d)(9)(A), and(III) any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the Secretary.

See the Delayed Financing Exception section to see if any apply to your situation that would lead to a denial:https://www.fanniemae.com/content/announcement/sel1105.pdf