We agreed to split the cost of the short notice with tenant (basically split 9 days of rent) as we were that eager to get rid of them.  

anyone else agree?

@Trey Hedrick Definitely agree, 80/20’s and 80/10/10’s were a big part of the meltdown 10 years ago.Lots of times the 20% second mortgage is a variable rate, so use caution.

I agree with both @Todd Powell and @Nathan G.

Essentially the seller agrees that $X will come out of their check at closing and go to cover your closing costs at closing (debit Seller, credit buyer).

I agree, either get it for cheap enough where you have a good amount of reserves, or don’t buy it.

I agree with Zach, most loans at $20K are typically put on a credit card or borrowed from family.

Would be curious if others agree with the above. 

@James Letchford I agree with Account Closed there's no benefit to you offering a rent to own to someone who can barely afford your normal rental rates.Rent to own is perfect for someone who:1.

@Alan ChambersAbsolutely agree you should start with a business plan then get in touch with a CPA who has worked on similar agreements like yours.