If you do a couple of deals you could then go to an attorney and say "How do I structure this so that it works for me?"

In my opinion it would be much easier and safer transaction to structure a one year lease option to buy with a sizable amount down from the tenant.Good luck!

he thinks.Count on the new bathroom costing $48k and I'll throw in a bunch ofthe little stuff.

I am an investor/developer working on new/rehab housing in Chicago, partnering with investors on deals and consulting with investors on deal structures and organizational development (setting up LLCs and corporations).

How do you structure the seller financed part?

thanks for the info.heres a great r.e. info site. www.recenter.tamu.eduim a broker in College Station Texas.folks are coming here from all over because of the great values on property and Texas A&M University.you can search up to date listings from my mls site. type mikecutler.bcs.mlxchange.com or just click on my www icon at this site.i would be curious to compare foreclosure sales there with regular sales here.we have very few foreclosures in our area and usually they have structural problems or liens etc.I love to pay referrals (25%) for folks headed this way.Mike

Structurally OK but lots of deferred maintenance.

Our team of investors will work with you to get you top dollar for your cash flow notes; examples� �Real estate notes (lease purchase/fsbo (for sale by owner) �Annuities (structured settlements, lottery winnings, contest winnings, deferred sports contracts, some types of pension payments) �Royalties �Equipment leases �Accounts receivable factoring �Government contract payments Please contact us to schedule a phone consultation.

.), there is a water leak in the yard, the ceiling in the bathroom collapsed from a storm (the insurance company half-assed the repair), now the roof is still leaking and there is water damage on most of the ceilings.

So, to summarize, under this structure the investor would sell and exchange into new rental property, rent for 12 to 18 months, convert it to his/her primary residence, live in it for at least 24 months, and once he/she has owned it for a total of five (5) years he/she could sell the property and take advantage of the 121 exclusion.