The point is not rely on one source (the mentor you guys are throwing mud at me about), but absorb from several peers in this real estate realm.  

Some counties vary on who traditionally pays the title insurance.

Hello All,I'm a young designer looking ahead at my career and wondering if there is a more profitable path for me outside of the traditional architectural practice.

I'm trying to compile a list for out-of-state landlords who want to self-manage part of the jobs traditionally done by property managers.  

You're not getting a traditional mortgage, did you have the place appraised, did you turn over your financials and tax returns, are your assets and liabilities verified, no, a seller financed buyer usually doesn't do that and not doing so and the risk to the lender goes up, doesn't matter who the borrower is, the lender is just taking the borrower's word as to underwriting an installment deal. 

My plan goes something like this:Get a preapproval of a traditional investment mortgage with 20% downpurchase condo or similar priced home (going condo route seems to be the most affordable in my area for a first investment unless I can find a good deal)If repairs are needed get a construction loan or find a hardmoney lender to finance property and rehab cost as long as loan is 70% ARV (seems to be a standard and will allow for profit making)fix up the property decide if it is profitable to rent and refi or sell and reinvest the proceeds^^this is my ROUGH plan.

I think the most important thing is the number of weeks of occupancy you need to cash flow the property, work backwards from there to see if the traditional vacation market will support the numbers, anything on top of that is just icing!

If I like it, I pull the trigger on the deal with cash and a traditional loan.

After the 5 years can they get a more traditional mortgage or is it 5 year after 5 year after 5 year mortgage?

Commercial rates are a higher than traditional mortgage rates but it is the best way to expand your portfolio as there is no limit to the number of properties you can have and there are lots of different types of loan products out their to fit whatever your strategy is.