@Jay Morgan For example, if relative gave me a $100k for fix and flip and we made $20k profit on the deal would you pay them 10% out of the $20k and the subsequent deals/ profits?

Bankruptcy however will preclude a foreclosure from progressing until the case is dismissed or the lender/servicer obtains a relief from the automatic stay.So in your example the borrower filed BK, then the case was likely dismissed or the lender was granted relief and subsequently filed their LP.

He subsequently mowed & trimmed the trees.Sold it 18 months later for $60k & they built a $385k home on it.

Sponsors that have survived cycles before have the advantage, and they also have the memories of their struggle to raise capital during their first (and perhaps even subsequent) down cycles.

The job outlook data included 2020, but the top employers list on slide 37 was from 2017. 

My talk will be completely story based and I'll be happy to share the slides with anyone after the event.

I LOVE going there and sliding down the rock slide. :)

Still, there are disadvantages that may prevent a buyer or seller from signing on for owner financing.Advantages for BuyersCan provide access to financing that a borrower may not otherwise have qualified forEnables buyers to finance homes that don’t qualify for conventional financingLets buyers and sellers shorten the due diligence period for quicker closingReduces the cost of closing by eliminating appraisal costs, bank fees and—if the buyer so chooses—inspection costsEliminates down payment minimums imposed for government-backed mortgagesAdvantages for SellersAllows owners to sell their property as-is, without having to meet a lender’s appraisal requirementsPresents an investment opportunity with better returns than most traditional investmentsShortens the selling process by reducing due diligence requirements and eliminating the lending processStill offers the ability to sell the promissory note to an investor for an up-front paymentLets sellers retain title to their home—as well as money paid toward the mortgage—if the buyer defaultsDisadvantages for BuyersOften involves higher interest rates than a traditional mortgageMay require borrowers to make a balloon payment at the end of the loan termDepending on the borrower’s creditworthiness, the seller may not be willing to provide owner financingSeller’s mortgage may include a due-on-sale clause that requires them to pay off the mortgage upon selling the house, thus precluding them from offering owner financingDisadvantages for SellersExposes sellers to the risk of non-payment, subsequent default and—in some cases—a need to initiate the foreclosure processPuts seller on the hook for repairs and other consequences of deferred maintenance if the borrower defaultsFederal law may preclude sellers from offering owner financing, limit balloon payments and require the parties to involve a mortgage loan originator.All the best!

At the very least maybe consider sliding the stove 1-2 feet and adding a small cabinet or some sort of prep surface to separate them.

And the fee slides down to $99/yr by the 3rd year, so that sounds good.