I found this little nugget of info in the instructions for Schedule C (Line 1):Installment sales.Generally, the installment method cannot be used to report income from the sale of (a) personal property regularly sold under the installment method, or (b) real property held for resale to customers.

I'll keep this thread updated even if the deal falls apart, good luck guys!

For example if you owned a restaurant and had those regular customers come in every day for their cup of coffee you will get to know them but you still charge them for what hey order and every now and then you might give them some free coffee but you still charge them.

The police came after they were there with me for over 5 months and broke down my door ( since I lived 30 minutes away and they just couldn't wait, although the tenants were not home) they stopped paying rent after 3 months, and changed cell phones regularly.  

It's a charming big old house with lots of updates and a really great location in the downtown OC area. 

The process if different that regular transactions and experience is needed to ensure the transaction goes smoothly 

If you are going regular FHA or 203k but in your name only you are good to go! 

It's a duplex and needs a bunch of updating to take it out of the 70's...old windows, fake marble bathroom panels, plywood in 2 rooms for floors, etc. 

Can I force more appreciation with updating the property. 3.

It needs alot of updating to modernize it so that's why I'm shooting low.