just trying to set proper expectations and to see if I need to plan on finding more income....thanks in advance.

So, get a good lawyer when you do any contract.My experince has been, if a person is seeking a land contract, they can't get a loan from a bank or other lender.Land Contracts do work if done properly.

Yes - my realtorAnd that's exactly what I expected- I sent them back to the showers to get a proper one

This happens all the time, is not unethical or criminal, and you should not file a complaint.Here's the mentality of the other side of the transaction:1) Man, it sucks that I need to short sell my home, especially now that debt forgiveness is no longer protected in 2014 due to expired legislation.2) I had better market it properly to make sure the short sale is approved.3) I had better vet the buyer properly to make sure they close the deal.4) I would prefer a cash offer to a financed offer.5) Cash offer from someone I know is accepted.That's it.

It was mentioned in JSOnline today that the neighborhoods eligible for this have now been expanded.

SO nothing out of the pocket of the tenants, but the evil landlords that work hard to provide a solid home for these people get screwed.That is just CHICAGO proper and nothing is stopping you from investing here or as I do, in other areas around Chicagoland where the laws are more even and fair.

I would contact a Real Estate Attorney to help write up the proper contratct for your state.

If you relax on some terms, it can be used against you in eviction court.If the tenant doesn't pay on time, hit them with proper notice.

It's a numbers game...get as many offers out there and expand your inputs through wholesale etcI personally like estate sales listed on the MLS.

A properly discharged mortgage debt relieves the borrower of deficiency but does not 'cancel' or remove the mortgage from the property.