Additional earnest money could be made say as $5,000 quarterly (initially 5 at the contract plus 4 more payments gives them 10% down....roughly).Payments are "paid out of closing" credited to the purchase price and non-refundable paid to you.To give the buyer a warm fuzzy feeling, give them the "first right of refusal" in the sale contract over the contract term.You can also put in the sale contract that it will be extended as necessary for lending requirements, say no more than 60 days, this gives them one year plus to ensure funds to close as any lending requirement to be met so long as they have a commitment.You need to tell your lender that you will be leasing the property as they will be getting a new policy from the agent.

I have a decent idea that around the UT campus area rents range from 400-800+ depending on what you are renting of course with 400 being an efficiency apartment.I would not spend over 30 grand on a home, would like to buy one which needs maybe 5-10k of fixing up. knox has a large amount of homes in this number bracket.My idea would be to either owner finance a home, or pay a large payment down and receive a loan from either a bank, or use some other options I have regarding acquiring the money (too many details).What do you all think of this idea?

If nothing else, if you don't it sends the wrong message that she can order tests that may or may not be needed and spend your money to do it.

I'm looking at flooring for the living room, hall and possibly the kitchen and I'm wondering if spending the extra money for engineered hardwood would be worth it?

They also have the option of spending their money and fixing the property to market standards, so they can maximize the sale price.

How much should I spend and where?

Getting started, $500 for 1000 letters is more than I want to spend & potentially could end in no deal.

I've saved enough $ such that living off the rental income would be easy (once invested), and in the meantime, I don't spend much $ so this wouldn't effect my finances much.Essentially I was wondering how this might affect my ability to get a loan?

Just spend the time on this site- podcasts, discussions, resources and it will be profitable for you.

I've never really thought of my perfect weekend but at the least I want to go out for the nightlife, spend a small amount of time in the gym, hanging out with friends.