There are quite many Accounting apps to choose from.For me, online database (keep track of expenses from anywhere with phone/laptop/assistants) and receipt scanning through phone are the 2 most important features.

Hey Eric, happy to be of any assistance your require.

To answer Brian's question, I believe you just want to cut your losses and recover some of your cash and possibly pay back borrowed money.Assuming my hunch is correct, you just claim your losses, and there is no tax issue.If you do have a taxable gain after selling this property, you will not have adverse tax consequences, either.

@Rob Gillespie I have an opportunity to strike on an 8 Plex in East Cleveland, any chance you could be of any assistance in trying to value this one properly?  

Seniors (ready to downsize or transition to assistance) and Homeowners with low Financial Stabilility Scores (FSS) are 2 that haven't been over-used.

It's whatever you can negotiate...I've had deals (both lending and borrowing side) with interest rates anywhere from 6-14%, terms anywhere from 3 to 18 months, no upfront points, 4 upfront points, monthly payments, one-time payment at the end, etc.  

He's concerned that doing so will affect his future ability to borrow for a personal mortgage.

Well, with a Contract For Deed you are essentially taking ownership of the home and your 'borrower' is under contract to make installment payments until the end of the term, so there would be no power of sale.

Does seller need to disclose tenants have assistance?

It sounds like there really is no personal risk if there is a default and doesn't affect your ability to borrow personally moving forward.