@Joe Miller That's a good question and best that you consult your title company for exact details.

Be sure to look up consulting firms that specialize in demographic analysis for self storage.

When doing a DFE or delayed financing exception you will be wiring that money back into your business checking account at closing if the business account originally dispersed the funds to purchase the property initially.The above is the financial and accounting end of it and the logistics.However, on the lending end if you need more funds because you're going over budget then you'll need sufficient income, assets/reserves, and credit to qualify for the new mortgage.Depending on how the property is currently titled you may have to QCD (quit claim deed) that property back into your name to close.This of course brings many other issues such as taxes and bookkeeping back into the foreground so consult with your tax pro on the implications of this as it may mistakenly create a taxable event depending on your business entity.Back to the lending end, assuming this is not a portfolio loan, you'll be closing your conventional loan into your personal name or your living trust.The funds will be wired to the entity or account that purchased the property in the first place (back to business acct if original cash purchase was from business acct).Let me know if you have any questions on the above.

Always consult with your attorney before you rely on the above information.

My name is Thayer Hood, I am a Broker/Investor Consultant in the booming marketplace of Indianapolis, IN.I am a newer agent, but I am ready and willing to learn from anyone and everyone who is willing to help.I thought my passion would be in the residential wholesale side, however after our team has found a few new properties and having met with contractors for bids, I have found my passion in REI.Being new or not, even I can see we have some incredible opportunities for investors.

You may also want to consult your attorney on that matter.Regarding the tenant, it probably won't end well, but I would confront them immediately as well to try to determine why and what to do now.Not giving legal advice, but strongly recommend you get some.

I'd consult with a good lawyer with experience in drafting Operating Agreements.  

I also like to do the math ahead of time so I can point out “you will make this much extra cash by seller financing” Always let them know they have more to gain in the transaction.I would also consult with a lawyer to make sure both parties are safe.  

Consult your attorney if you have one.

Burden of proof on them for delivery, and only you can accept it and release funds.Also, I would consult an eviction attorney and see if you can get a stipulated judgment for the eviction and make that a requirement as well.