I think this arrangement can suit both parties, he wasnt going to be able to keep the house but can still live there for super cheap.

This way in case of “default” we don’t need to go thru foreclosure, or bankruptcy litigation since we already own the property on a sale/leaseback/option arrangement.  

When maintenance is scheduled, we send out a reminder, and if they won't be home, they can easily authorize entry.Sometimes, our contractors will contact tenants directly to arrange the most convenient dates and times for visits.

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

This is not an eviction.Please make arrangements and good luck in all your efforts.

I'd prefer 30 year fixed rate debt at 7% over this arrangement unless there is something that I am missing.

The ownership could be changed prior to structuring the parking arrangement, but last-minute changes without time to season the ownership change would significantly increase the risk the transaction could be disallowed as a step transaction under audit.

It requires a solid FICO, that you get pre-approved with all current financials held in file beforehand, with the complete contract package submitted upon execution which starts the clock; insurance must be arranged within three days for lender underwriting. 

By and large, QI's have very high ethical standards, and are sometimes overlooked as the engines of this tax saving tactic.]REPUTATION MARKERS 📊INDUSTRY STANDINGMembership in professional organizationsLeadership roles in FEAEducational contributions to the industryRelationships with major title companiesCLIENT RELATIONSHIPS 👥Testimonials from CPAs and attorneysReferences from title companiesLong-term client relationshipsTransparent fee structuresRELATIONSHIP RED FLAGS 🚩Overly familiar with your realtor/brokerKickback arrangements (illegal!)

If you hire a Property Manager they can sometimes help arrange lawn and snow removal service.