I encourage those I work with to deal honestly.  

I would like to learn more about seller financing, I see a lot of information on the internet about seller financing but honestly I am just confused.

Quote from @Cody Caswell: Quote from @Jay Hurst: Quote from @Cody Caswell: Is it true you can use taxes, depreciation, insurance, and mortgage interest for qualifying income when applying for an FHA loan on a primary residence? 

Well if you go together it could split it and get basically nothing - spend $2-3k file a lawsuit and get a judgment you are first in line… Also in many instances you can slap that judgment on his personal residence as well and foreclose on that.

Honestly if the property taxes are enough to make the rentals a bad deal I’d suggest selling.

Honestly your approach may be a bit rough around the edges, but actually getting out there and trying to find deals through grit and hard work is the best way to start.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

First, are you looking to buy a single family residence or another type of property? 

Honestly...you have about a 10% chance of collecting any money.

-Primary Residence.