The house is worth around 200K, I didn't plan on charging interest, just an additional $600 a month for the 20 years.One of my biggest concerns is the foreclosure/Eviction process. 

I sold a few homes in Jackson MS to Naca buyers.. its a process and the homes had to be in perfect condition before naca would close  IE FHA or VA appraisal standards at the minimum.. the program is designed for first time home buyers or low income home buyers also NACA was very firm on us ( the seller) buying down rate and closing costs. 

That doesn't mean just take any agent, but if you search and find one of the good ones, they will more than earn their commission.

So I am in the process of acquiring a new property in a good area that is vacation driven in upstate NY.

(How to deal with existing mortgage during the gifting process... prefer mortgage gets paid off, rather than become part of the gift.)Much thanks

If you have equity the best way to start the process is to do a cash out refinance and pull out some cash to use as a down payment on the new REI. 

I have tenants that have been in the property for more than five years. Recently they have started creating issues. The lease is expiring on october 1. I want them out and not renew the lease. I am not evicting them b...

Buy it transition it or refinance it into a rental and start the process all over again.

I will have to ask my Banker if they discount net worth when the majority of it is real Estate assets.This thought process was very pronounced when my Timber partners wife would only look at cash as assets everything else she said was just numbers on paper :)

Moreover, if your asking price doesn't align with the property's financials, it can stall the selling process.