At a very high level a property has a “tax basis”, once you exceed that basis you are subject to taxes, whether that happens when sold and paid in full or paid over timeThe loan provided by seller financing is like any type of loan where the interest is taxed at ordinary income rates.

Consulting a real estate attorney is highly recommended, especially for complex transactions or if the standard forms need modifications.

I highly doubt he is building homes in Texas from his self imposed exile to Portugal to excape massive litigation that was/is coming his way.He is a marketing guy and receives a commission for referring you to the builder developer who actually owns the properties.. at least that was his SOP in the past. 

With Amex Business credit cards, you can get 0% interest for up to a year, 2% cash back, and a welcome offer plus high credit limits without affecting your personal credit utilization.

Being a builder, my first thought goes to the construction type items: Tile or wood floors, vinyl shower kits, high quality wall paint like Behr Marquis, solid wood furniture, good appliances not cheap rental ones, easy to maintain yard outside like DG, artificial turf and gravel. 

I put in a little work developing a high level scope of work, assigning values and 3 resulting estimates so that I can not only determine what I think it will cost but what the best and worst case scenarios likely are.

@Andrew Freed I did a material estimate and on the high side I expect to put around 38k into the rehab.

And we live in CA so our tax rates are high.

I'm graduating High School in a month and I want to get straight into Real Estate, I'm 17 so until I'm 18 I'm unable to get my real estate license (though its not needed in the state of FL for assigning contracts) and I don't have an LLC that would allow me to sign REI documents. 

Its important to know what exactly your goals are when making these moves and see what will make the most sense for you in the long run.When looking for your next deal, I highly recommend my local market of Milwaukee.