Our agency works with them and Steadily along with many others.

I am owner financing it at 12% and 2 points with a balloon payment due in 12 months to a builder.I made 25k on the house and did no work to it.The land I'll make about 10k on with no work other than mowing the grass once.

Yes - it is more responsibility & work -  but by having all the control you not only get more experience, but control your own destiny, versus being a rider on the bus as a LP.  

Many of the software just flat won't work otherwise!

YOU NEED TO PUT IN WORK!

The tenant paid his deposit in cashier's checks and left his account ledger from the previous leasing company (No clue why) showing he had fallen behind on rent payments for 4 months.

However, you should be cautious buying stuff that no one else did, since there could be a hidden reason why it didn't sell the first time.  

Our place is full for about 5 months a year and dead the rest.There is no way I am going to cut our nightly rate to 1/2 or 1/3 to get some bookings.

No... but I wish I was!

Rogelio,I would check with a local Title Company to ask generally what they have seen in the past.Check with an insurance agent, even specifically the borrower's insurance agent, as to required terms.Finally, armed with that info: work with an attorney to draw up ironclad docs.My 2 cents,Mike