Having worked for one of these large funds briefly (they have no soul) I learned the innard workings of the operation and realized that their model is so flawed I knew I had just boarded the Titanic. 

They will open escrow, do a title search, lien search, issue a title insurance policy, calculate pro-rations, order payoffs, prepare a settlement statement, record the deed, etc. as part of the closing process.I AM ONLY EXPLAINING THE PROCESS HERE...THE FOLLOWING IS NOT TO BE CONSTRUED AS LEGAL ADVICE, WHICH I AM NOT QUALIFIED OR LICENSED TO GIVE - CONSULT AN ATTORNEY FOR THAT.But, yes, assuming your contract calls for clear title (a good example is the Florida Realtors Vacant Land Contract, paragraph 7), then yes - you could conceivably make an offer using similar terms, and once you and the seller have agreed to terms and signed the contract, you could take the contract to the title company and they would work their magic.The title company would let you and the seller know what they uncover during the title search, lien search etc., and the onus would then be on the seller to settle any outstanding liens at closing (assuming they are less than the purchase price, they could come out of the seller's proceeds on the settlement statement and be paid by the title company).

I will make sure to keep this updated as we uncover more opportunities that we are seeking.

My logic behind that is i would be getting more income with more tenants(still exploring this thought, i do see some flaws as having an overcrowded property, tenants expecting the market value of the rent being split between all persons living in the property, is this legal?!?! 

Death of all obligors is another reason although recent CFPB rules have made that a bit more difficult to call a note due for the death of the borrower(s) if there are legitimate heirs.Your motives aren't flawed James.

As a new user to BP but someone who has done well with the three properties I’ve owned, I was taking a look through the forums seeing what screening tools others were using and thought it was interesting how much of a...

Is my thinking flawed?  

Owner financing can be a great deal but it can also mean the owner is not prepared to show you the full financials (they often done have them and under report income to the IRS) or there could be some 'surprise' infrastructure or other issues that an appraisal and professional inspections will uncover but a quick OF due diligence period might not.Definitely talk to city/county officials to see if permits are needed to operate the Park.  

And brokers that use that old formWhen done correctly, these “deals” are not illegal.I’d say they are more for ‘advanced’ REI and certainly carry some risk when the deal goes bad.From what I see, the problems are investors are not following every requirement in NCGS Ch47G, and/or their contract for leasehold interest is flawed, and/or they lose their buyer.So if you connect with a homeowner that is looking to sell their property and has already contracted with a broker, do you typically stray away from those deals because they might resist these more “creative” approaches?

Frankly, it shows me the flaws in your leadership.