Seller likely does not want to 1031 exchange into another property, wants no management of the property anymore, and wants a somewhat passive income stream from holding the note.If you pay him 15% down that is a large chunk of change.It's different if they are financing close to 100% with 5% down and non-recourse loan.

trust deeds non judicial. so like in GA and MS  which is trust deed country or in GA its called a Deed to secure debt..it can be quit fast 90 to 120 days from filing the NOD .. in mortgage states and particularly NE states the process can take some time but usually at least one year.. to from what i have heard in NY it can take 3 to 5.. borrowers and lenders can also stall things out a bit using different methods.

For those who don't accept prepayment, all other tenant screening considerations aside (so it's apples to apples, no criminal history, etc.) my view is that one risk item (non-payment) is removed from the rental equation.

However you decide to work it, make sure it is understood (in writing) that if they DO NOT purchase, the option fee is NON-REFUNDABLE.Good luck.

Let your lawyer add in penalty clauses for inferior work and non compliance with the time schedule.

I'm looking for a basic cleaning service for a short term rental (air bnb) in Jacksonville, FL.

Cleaning - unless you are living there be sure to get an awesome cleaning lady.

In fact, most loans obtained for these purposes are non owner occupied loans and they may have pre-payment penalties, but that is getting way off base for this conversation.Lets stick to the topic at hand which is about how to set up QB for flip projects.

Or would this be non kosher and hurt relationships with future GC's?

My back ground is in church and non-profit work, but one year ago (March '17) I got into slingin' mortgages.I'm highly analytical and I'm addicted to spreadsheets.