The property is 2 minutes from our house so that’s no issues for us to clean.  

The original plan was to live in one unit (as requird by the loan terms) for one year and rent out the other, then move & rent both units after the 1 year requirement (currently living with relatives).

My mom is willing me her house when she passes away. Any suggestions on how to structure the will with specific provisions to allow my stepfather to remain after her death? My heart would like to let him stay for free...

Definitely understand the frustration of your seller financing issue.

I would like to hear from "PEOPLE WHO HAVE DONE THIS"  type of flipping / buy-n-hold, as well as the pros and cons of doing so.The first issue that comes to mind is where to get funding on a property with such low entry value.Coffee talk amongst yourselves and get back to me.

I've used various types of lease formats for different owners, and have never had an issue with the lease format for either one of the housing authorities in Dauphin county. 

@Chris Holmes Obviously this community is heavy on REI and group think issues.

I am fortunate to have a very good paying job, so saving for more investments is not an issue, and the risks I’m willing to take can be a bit higher than the average beginner in real estate.

Specially, as it relates to taxes.  

Below is a link to a 5+ year flip that a member was drug through due to an occupant who was in place and related to the seller.