My main goal at this point is to purchase rental properties to provide passive income into retirement and for my family.

Also, the benefit to seller financing is that the terms rates etc. are all up to you and the seller.

New to the REI community and looking to get some great guidance and advice from the seasoned vets and learn as much as I can.Have been doing some initial research into Multi-family, buy-and-hold, (>,=2 units) in the Chicagoland area (mainly western suburbs, Brookfield, LaGrange, Downers Grove, Wheaton, and the like) and found some units with potential.Here's my current question:I've found a property that I believe has some potential.

@Mike Dean have you click on " users near you " in your main profile page?

This way we could take a 30 year mortgage and pay it off much quicker (7-10 years or so).My main assumption here is that it is beneficial to pay the mortgage off as quickly as possible, as to reduce the effect of accruing interest over the life of the loan.

They won't be local to you but with Skype and scanners these days, it is more important you get an expert in real estate and someone you can call day or night with questions and who will work with you to create the best tax benefit for your individual situation.  

Real estate offers countless benefits that are practically at your finger tips.

What benefit do you get from wasting yours?

It benefits you to keep them both on lease.

Overall we have a partnership where we all benefit when good decisions are made.A defaulted note is a note where the borrower has violated the loan terms.