The BK rules while governed by Federal law also have state law requirements.

They can help you find buyers and sellers, teach you on the local laws and regulations. 

I am just not too familiar with the business aspect and do not want to break any laws or regulations but need to ensure that before the 5 month mark the lender is paid off or else the interest rate hikes up.

If so, you it will that kicks you into a Level 2 Alteration per the IEBC, which is the governing code on your project. 2.

@Jorge Guadian It is time for you to learn your state landlord tenant regulations.

Appraisers are so regulated, especially in the case of doing bank appraisals, that sometimes were aren't that accurate.

It's ideal to have both licenses as I use to, however resent regulations now prevents you from having both.

Though since was before the Dodd/Frank debacle their reasoning was based on safeguards against strict Landlord/Tenant Regulations.

Regulators look for predatory practices from scrupulous people and companies where they offer to review and some type of fee is paid to the party.

But doesn't look very good.Next, in January, you won't be able to collect the payments yourself, you'll need a servicer to collect them under new regulations, that is another federal matter.Next, and strike three, you have an agreement that circumvents foreclosure requirements, now since Texas doesn't allow installment sales, it won't be allowing an installment with any equity amount to require or exempt the foreclosure process, so again, you stepped on it.If you have made any arrangement to convey title after the financing, it's a purchase arrangement and they folks in that house are not tenants, regardless of what you would like to call them, they are buyers, with ownership rights.I'd honestly say you're screwed.