Situation: Local motivated seller is in need of relief from his monthly obligation for a sfr investment property.

Up to you if you want to hang your hat on the de jure letter of the law or the de facto realities of the situation as it stands now.

I’m not sure of your situation (no advice given), but what commonly holds investors back in growing their business is the admin costs.

Other one built in 1949, Allstate agent initially wrote but when assessor went to see it, he didn't even assess due to property's age and they declined to write the policy.I live in NJ and have 2 more rentals in VA so essentially I have 4 properties (including that 1956 built Baltimore), autos and umbrella (requires all covered properties to be insured with Allstate) all with Allstate so trying to see if anyone has their pre-1950 property with Allstate (which happens to be cheapest overall everytime I try to price shop).If anyone has any other insurance company they can recommend for multi-state situation like me then that will be appreciated.

Typically in this situation you won’t get that money back.

In those situations you may be willing to pay more because you see more value. 

Seller finance situations are often used with off market distressed properties involving a desperate owner wanting out .

Does anyone have any suggestions for the type of loans I could use for this situation?

Hello BP community,Here is the situation.

This is a tricky situation.