This article by BP's Brandon Turner is a great place to start to get some ground-level understanding of how to approach a Seller Financed deal.The Definitive Guide to Using Seller Financing to Buy Real EstateIt sounds like you have a really great opportunity with this seller, and you are smart to make sure you handle these first deals with them professionally and knowledgeably.Start with this article and let us know if you have additional questions that apply to your specific opportunities on these properties!

Unless there’s some other reason besides free rent or reduced living expenses for living there.

I did this before and unfortunately, I was dragged along for almost a year, but then again this was partially due to the borrower and his lack of due diligence (I’ll take blame too for partnering with the individual) but I like to think that the mistakes I had seen wouldn’t take place if the project was under my watch or to the very least the situation would be handled differently.The properties and deals that I generally see and come across in the South Jersey and Central Jersey areas would need a gap lender that would bring roughly 25 – 45K to the table depending on the area.

If you bring me a deal, it needs to have an advantage- 1) Reduced price from retail 2) Better condition - (so Its move in ready) 3) lower than market rents 4) Financing Terms, Etc.

I had an Excel sheet where I kept track of every individual expense/rent payment for my first rental, but I just bought 2 more units and now I've been working on building a more robust version of the sheet that can handle multiple properties.

My personal belief is that "It is not the software that defines the process, but the process that should define the software" In other words, each and every one of us have a unique business, with unique processes that can utilize software to reduce workload, provide a better customer experience and automate tasks.

I suspect that this activity will reduce investment leads in the short term, but will lead to a bubble that creates opportunities in the longer term.

I now see an opportunity to pool money together from several people and start to purchase multiple homes at once, however I am not sure how to properly structure this business.I wouldn’t be buying large apartment complexes like a syndicator (I'd need much more experience to handle large deals lie that) but I think the basics still apply.

Says he'll handle the couple putting in the higher bid.The $760K came from working couple putting 10% down, and the 90% mortgage looks iffy.

@Carmelo Pollicina: You are in a difficult position as few banks will handle a mortgage to a LLC .