With an owner financed deal, you want a triggering event (i.e. non-payment) that causes the contract to revert back to a straight rental.

There was a significant amount of time, money and effort put into getting the contracts created with the requisite triggering event and conversion clauses that negate the equitable interest, the documented supporting legal opinion from the drafting attorney (this is nearly impossible to get because no attorney ever wants the liability) and all of the actual supporting case law that supports the position for utilization in court with the judge as well as when speaking with sellers.

A few local investors have gone through it, but no one will pull the trigger.

Do not tell people streets if you really have a good deal as they will pull the trigger faster.

It could be the FDIC but likely the owner will be another bank.Were you current on the loan and in compliance with the loan terms?

Usually just a few questions will trigger him to freely start giving info.

They'll pull the trigger fast if it looks good.

This term is what really triggered my red flags and why I feel the need for the warnings here.

I have a deal that seems too good to pass up on the surface, but, being a very green newbie, I am a little trigger shy.

I've been approached by Mynt investments wanting to have a chance to put any of my 5 and over apt. buildings under a 2 year lease-purchase (the version that commits them to buy, not jsut gives them option) and so I don't think I like it, because I've got my buidlings running quite nicely, and what if it doesn't work out and 2 years later they don't pull the trigger and leave me with 50% vacancies, etc.