We have a huge number of people entering the market with even single/double wide's being listed as STRs, I think it's going to take 12-18 months to flush out a lot of these listings where people have obviously not run their numbers. 

This means you have an LLC for a single business activity, which is filed correctly, has an Operating Agreement with clear and precise terms, you set up a separate bank account for that LLC and its related business activity, you do not use that bank account in any way for personal activity, and while it varies per state as being a requirement, you always want to make sure you have periodic filings and to take it even further, hold a "meeting" once a year...even if you're the sole member and there's not much changes that took place for the year. 

Living in an illegal unit, even temporarily, could jeopardize your eligibility for certain loan programs.I am a Loan Officer, and if you would like to chat further about your specific situation, I can answer any questions you may have.

The outstanding balance after 5 years (60 payments) will be approximately $364,814.The buyer would need to pay this amount at the end of the 5-year term, typically through refinancing or other financial arrangements.Using the Promissory Note for Financing in Florida:The promissory note valued at $400,000 from the sale can be used as collateral.Assuming you can get a loan of 75% of the note's value, you could potentially access $300,000 to assist in purchasing your new home in Florida.This detailed scenario underscores the potential benefits of seller financing, such as generating additional cash flow and converting equity into liquid capital for reinvestment.

My current situation: I found a buyer ready and willing to put down deposit before the rehab is even finished.

The deals are very conservative and are mostly wealth preservation with modest cashflow (3-4%), but they've performed for me even while many syndications originated at the same time have been failing. 

What's your end goal vision using real estate?

He stated some B's about me not being the owner blah blah blah even though hes the one who told me what to do infront of my landlord. 

I am having difficulty in my market even acquiring good BRRRR candidates because after the finance, they are cash flow negative.  

- Sometimes you can even charge MORE for this type of rent.