Hey, sorry for jumping in but just wondering did you consider the legal side of things, vis-a-vis the florida RVM laws passed last year. 

The original $300k mortgage balance would have been paid back to the mortgage holder via principal pay down over 30 years with funds that came directly from rents collected.

If the lien is redeemed within 5 years, the premium will be returned to you (the lien holder) WITHOUT interest.

@Patti Robertson  rents simply don't go up exponentially vis a vi purchase price.. and the value proposition here is  probably appreciation play or instant equity.. can't look at it like your buying low end rentals.. or MF.. builders use construction financing to build right ??? 

If you are the borrower you will need to coordinate with the bank and the current holder of the contractIf you are the lender and have someone on a land contract you cannot finance more than the amount of the land contract

In general, if you live in a place that DOES NOT have an income discrimination law, you are free to discriminate against Section 8 voucher holders, including advertising that you do so.

And again why he sold in CA he said was because of a bubble and why he went to Texas I can't really say for certain.. and why he left I only surmise from his talks that he was experiencing what many out of area land lords experience and that is lack of control.. compared to what he could do in So Cal. and I don't know what area of Texas he was in Either I fully understand that Austin is not like the rest of the state vis a vi values.  .. and at the time there were great buys to be had in So cal  and those So cal properties shot right back up so no doubt he did much better than if he would have held on to Texas... then I ran into him about 3 years ago at an Entrust event in Vegas were he was speaking and we got to chatting and he was very big into buying court house steps deals at that time.. and how to handle CA.. squatters that what end remember about that talk.

Contact your mortgage-holders.

That way, I can hold it for profit as plan A or sell it for profit as plan B (or visa versa if I plan to flip it as plan A)... these different sources of profit margin also serve as my margin of safety ... that is what I mean by make a lot if I'm right or make a little if I'm wrong, but the house always wins, and I am the house.

The Texas Administrative Code, 535.144(c) A license holder acting on his or her own behalf or in a capacity described by subsection (a) shall not use the license holder's expertise to the disadvantage of a person with whom the license holder deals. what’s your opinion?