Just a quick question; I received a voicemail in response to a yellow letter I mailed out (inheritance).

You could write a letter to the other landlord.

That may save a lot of effort for potential investors that don't want to bug their advisers for a letter.

Either way, a letter from his CO isn't enough "proof," require an actual copy of the orders and/or visualize the original.

We set up a google voice number and started mailing letters.

The #2 reason this works really well is that you can balloon payment these loans at the end of the flip especially if its an RSP loan due to the fact that the lender really can't touch this money anyway so monthly payment don't make or break the deal and this frees up more cash flow to run the flip.Sorry I got off on a tangent there....hope this helps.Dave

Handwritten letter worked well.

The lease purchase is $100,000 with $5,000 down = $95,000 amortized over 25 years and a 3 year balloon.

If they fail to qualify at a balloon, I suggest you extend it. if they don't qualify due to a late payment to you and they have dated check sooner than the deposit date, there is strike two on predatory issues.

Assuming you can qualify for the bank financing, could you ask the seller to take the "down payment" in terms of a 7 or 10 year interest only balloon?