In those situations, the statute also provides that the required disclosure must be given by a separate document at least five business days prior to the purchaser executing the contract for deed.13 Like the rule applicable to contracts for deed resulting from a purchase agreement, failure to give timely disclosure prior to executing the bare contract for deed does not affect the validity of the contract for deed.The statutory disclosure (which must be in at least 12-point type and signed and dated by the purchaser) provides information about contracts for deed that may not be known to the typical unsophisticated purchaser from a multiple seller: a contract-for-deed purchaser does not have the protections afforded a tenant or by mortgage foreclosure laws; the purchaser will be obligated to pay homeowner’s insurance and taxes and make repairs and perform maintenance; the purchaser will need to refinance at the time the “balloon” comes due; and the statutory cancellation process can be quick and the consequences severe.

Just be aware, that commercial loans are more expensive, have shorter terms, and usually require balloon payments unless you can get owner to do a land contract. 

5.She is trying to get $50,000 total to try to fix up the reno project plus pay for the expensive repairs on the other properties.6.She would also like to refinance the other properties which may be under commercial loans but deeds are in trust.One is over 12% and others I believe are over 8%.7.Her personal property has a mortgage for $130,000 and is showing about that value on auditors website + corelogic/Zillow.However, they completed gutted and rehabbed their house many moons ago and turned it from a 3 bedroom 2 bathroom church house into 5/6 bedroom 4.5 bath house.I believe theres plenty of equity to be found here but she’s afraid if she gets an appraisal for HELOC either she will waste money and it will come out to what the internet says or the county will reappraise the house and raise her taxes significantly which she can’t afford right now.8.She has a promissory note from a lawyer my stepdad lent $50,000 to some time ago.The note was due for $83,000 balloon in 2011 but he has only paid $5,000 on it.I don’t know the full details of this but she is supposed to send me a copy.Thanks for any help...this is pretty complicated, especially since I don't have the paperword to really lay down the exact details. 

Make sure all deposits convey to buyer at closing and make sure you get an estoppel letter from each tenant.

Most commercial loans work on a balloon system.  

Ben,Quickly using my calculator it looks like a 25.5% assuming the balloon pays off in November 2016.

We then use "yellow letters" to get in touch and hope for response

These are a few of the first 200 yellow letters I sent out on June 25th.

We are about to receive the approval letter on both and I had a funding question.  

Assuming you disclose the issues and a structural engineer gives you a letter saying place is structurally sound, then you should be able to process as you wish.BUT, don't cut corners when it comes to safety.