With them just selling his mothers home, its not uncommon for people in that situation to pay up bills in advance, especially if they know they're a bad money manager and would be tempted to spend it on something else.

You will be in a far worse situation if the tenant turns out to be slummy.

How does owner financing help the situation?

I'm sure you have liability included with your policy as well, but this doesn't appear to be a liability situation. 

Now you're making cash flow every month and can use that cash to help fund the next deal as well.You're very close to completing a full BRRRR strategy and that is the best situation for you!

Hume,I have been in this situation before.

We are new to the Atlanta area need advice on the financial issues we’re facing due to our situation.

It usually depends on the specifics of the situation.

Whether the cost and hassle of running an LLC is worth it to you will depend on the specifics of your situation.

Here is my situation, and I wonder if my overall strategy is sound.I have 2 goals in posting this - first to inquire if I am missing anything or otherwise being unwise or risky in my strategy, and secondly, to document a situation, not all that uncommon, which may help others in similar situations.1.)