You could've taken the more "stable" route and did the regular 9-5 routine.Your success is a direct testament to the risk you've taken over a # of years in this field. 

We didn't pay anything down and we got a rate of 3.6% which is hard to beat compared to a regular conventional loan.

Hypothetically, if a mix property (commercial main level and two apartments above) only has $80k left on a $350k loan and the property is worth $500kand the taxes are $12k/yrand the rents are $4k/moand the owner is your father in-lawand he wants to sell but worried about the income taxesand he doesn’t want to buy another propertyand the building needs about $50k in updating and roofand you want to help him out by taking it over with seller financingWhat terms would make sense for him without a huge tax consequence and basically still get some of that income from the buyer, us?

Since it comes with a higher risk, it costs more than regular mortgages. 

There are a few of us locals trying to start a regular happy hour, keep me accountable, gathering.

Landlords must do inspections regularly and repair damage when they find it at the tenants expense.I would install though laminate now and bill her for what it would cost at days rate to replace with carpet.

Will update.

Excited to provide this month's update. 

Update, this deal fell through.

FYI, we regularly settle judgments for pennies on the dollar, and judgment enforcers know that the $4700 is likely interest heavy.