@Tom ServerI think that the 203k is not a good fit for your scenario because you are buying the property with cash and the 203k is a mortgage loan that includes the purchase price + the rehab costs.

To me, the question isn't "stocks or real estate," because a diverse, recession-resilient portfolio includes both.

While seller financing offers numerous advantages, including tax benefits and continued income for heirs, it seems he's set on selling for cash.

Will use my lender Ryan Deasy at Capital Three Sixty who has already done (or in process of doing) 7 other loans for me including a 3 property portfolio refinance.

It’s part of a bigger process (including a will and docs for you if you need help) and you don’t want to miss a step, so don’t just google this one.  

Say a 550,000 loan with 25% down at 10% interest on 15 yr vs 30 yr. 15 yr monthly payment-- $4,40030 yr monthly payment -- $3,600Does not include property tax 

It's becoming an extremely large medical research hub, including Nano-tech and regenerative medicines.

(which appears to be what question you're actually wanting answered)*Insert generic "I'm not a lawyer, consult your own professionals" statement here*First, I have all tenants fill out a worksheet that indicates what type of animal it is, including generic information about the dog such as name, age, breed, and who does the dog assist (if not readily apparent and there will be multiple people residing in the house.)

Including the inconvenience this causes his tenants because now they just added another expense having to pay for a P.O.

I don't know if it will impact the coverage now but it will certainly be a factor when you change to LLC ownership.