Pretty simple where we lease the property to the buyer and they put down the non-refundable option of $30,000.You can go the sweat equity route, or ask for owner financing with some folks who are retiring and not wanting a huge tax bill all in one year.

The problem I see is that I can't be sure how much the rehab will really cost and it is not likely that I can find a non-recourse loan.

I have been reading through the articles, blogs and forums non stop since I found BP a couple of days ago.

The Earnest Money received will be applied to the Deposit or considered liquated damages if the Agreement is terminated for non-payment of the Deposit.b)The FIRST MONTHLY PAYMENT in the amount of [[$First Pmt Amount]] is due on or before [[First Payment Due Date]].

Seems like every deal I've had has been non-standard - lol!

Non owner occupied.

Additional earnest money could be made say as $5,000 quarterly (initially 5 at the contract plus 4 more payments gives them 10% down....roughly).Payments are "paid out of closing" credited to the purchase price and non-refundable paid to you.To give the buyer a warm fuzzy feeling, give them the "first right of refusal" in the sale contract over the contract term.You can also put in the sale contract that it will be extended as necessary for lending requirements, say no more than 60 days, this gives them one year plus to ensure funds to close as any lending requirement to be met so long as they have a commitment.You need to tell your lender that you will be leasing the property as they will be getting a new policy from the agent.

The seller contacted me from a non owner occupied letter that I had sent them.

Rehabs/Flips do not qualify for 1031 Exchange treatment because you did not have the intent to hold for rental or investment, but rather had the intent to fix and flip (i.e. held for sale, not investment).

Wouldn't you agree that there are many finishes that hold up fine in non-rental situations that you would, 1) never put in a rental or, 2) expect not to last due to the fact that tenants generally don't take care of a property the way a homeowner would?