The main condition was I had to have the downpayment (20%) first, close the deal, and then execute the owner financed 2nd mortgage. 

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

If you need cash for remodeling new home do a LOC on your owner occupied house before you rent it. 

I'm a investor, flipper and property management company owner who specializes in central CT.  

I have used owner finance and hard money mostly to build my portfolio but need some institutional refi in the future.I'm also thinking about how this affects taxes, insurance.Thanks in advance for sharing your opinions!

If the partner moves out of state next year they are still a 10% owner, but you simply hire another property manager for that same 8-10%.

I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

I would also share pros and cons of paying taxes on the windfall versus owner carry.

For example in many jurisdictions I can STR units in a duplex but cannot STR an ADU (some jurisdictions will let you STR if you owner occupy).

For example in many jurisdictions I can STR units in a duplex but cannot STR an ADU (some jurisdictions will let you STR if you owner occupy).