I added in vacancy (10%), property management (10%), maintenance (10%), $1k/yr for Contract services, $750/yr for legal costs, I escalated the taxes, insurance and utilities by 3% (numbers provided are from 2017).

I am nervous and unsure as to how to approach it being that not only is this my first deal venture, but I also am not 100% sure how the seller finance process works legally and through documentation as opposed to a traditional home loan.

Rents roughly doubled since 1993, but not quite, so the total rental for the two legal units run $4,500.

sounds like you're trying to get a personal mortgage for a property held in an LLC, this is not compatible.if you want residential mortgage rates, leave the house in your personal nameif you want to leave it in your business name, your lending options are restricted. apologies if I misunderstood and mis-answered.

Are there any liens, rights-of-way, easements, covenants, or other deed restrictions or encroachments on the property?

The old lease transfers to you upon sale of the property, and is equally as legally binding as though you had signed it yourself.

Hi everyone I am a newer investor and had choose Newark nj as my starting point,like every newer investor i have a lot of questions to ask most of it are legal questions.can someone please help me with a great but friendly real estate attorney who will be willing to answer all of my questions and guide me in the right way Thank you everyone appreciate your help

The owner of the company replied to me after I negotiated with my seller and informed me that in order for a wholesale transaction to legally take place I first have to close contract A with my own money, a lender, or transactional funds before I can close my assignment contract.

. :-)  It sounds then like realtors (under NAR, etc. guidelines, nationwide...) are likely 'unclear' about a "non- transaction" (and that clause clearly only refers to "commission sharing" in reference to actual "under contract" clientele) and likewise my either 'promising' or 'gifting' (in effect) money or perks to someone who 'refers' a potential client they can't work with presently (when I can help that person, who may then become a RE brokerage and/or mortgage, etc. client later on, when they resell, or perhaps refer others they know, if the agent(s) HELPED THEM OUT) doesn't even seem 'grey area' to me, unless there's more 'legalese' (statues, legal precedent, case law???)

If concerned with legalities (many are not) see 475 to avoid problems.