Even a 30 year note usually pays off in an average of 7-10 years. 

My worry is that the property might fall into probate or tax auction once he passes and someone who knows someone will get the deal under contract before it reaches public offering.There is a real estate agent in the area that gets about 85% of all the listings in the micro-market, so she is farming these properties constantly. 

On my existing units most prefer to pay cash.

City of South lake has a ballot initiative for a vacancy tax to be voted on in November. 

I paid cash, but borrowed 30k from a family member to cover some extra costs and renovation, the HOA fee is $135, and I pay my family member $500 a month until the 30k is paid off.

I don't want to pay for a separate subscription for each of my LLCs.

Either way...costs have SKYROCKETED in the building material space...people who are building at such a low fee are likely their own GC and not paying themselves properly@Alex L. - What prompted the purchase of the lot? 

That way you can ask for 4-5% Seller credits to pay for the closing costs.

Vacant Land – Most land transactions are great for owner financing Tax Default – Usually means property is too much for the owner to handle and will often discuss other options like selling if we take the problem off their hands.

I currently am franchising stores for a few years now and am seeing the leases we sign and square footage we pay for.