Compare the APR for proper evaluation.

just trying to set proper expectations and to see if I need to plan on finding more income....thanks in advance.

So, get a good lawyer when you do any contract.My experince has been, if a person is seeking a land contract, they can't get a loan from a bank or other lender.Land Contracts do work if done properly.

We would like to ensure that you have a clear understanding of our rental process up front.We will conduct a credit and background check and contact references as part of the application process.It is important to provide a clear and complete application to make this process as smooth as possible.Please ensure you will meet the following qualification requirements before applying as there is a non-refundable application fee:Stable, verifiable gross income of at least 3 times the monthly rentFavorable credit history - no judgments to prior landlordsPositive references from previous 3 landlordsNo eviction historyClean criminal background check – no feloniesAll applications must be accompanied by a non-refundable application fee of $25 for the first adult and $15 for each additional resident over 18 years of age.This fee covers the cost of the credit and background checks.Again, we encourage you to apply only if you are confident in meeting the qualification requirements.Applications will be processed in the order received, and the fee will only be charged upon processing.If the apartment is rented prior to your application being processed, we will return your application fee.We use TransUnion SmartMove for our screening process.Upon receipt of a completed application with fee, we will send an invitation for you via e-mail to complete the application with SmartMove directly – there will be no additional cost for this beyond the application fee.This process helps protect the integrity of your personal information.

Yes - my realtorAnd that's exactly what I expected- I sent them back to the showers to get a proper one

This happens all the time, is not unethical or criminal, and you should not file a complaint.Here's the mentality of the other side of the transaction:1) Man, it sucks that I need to short sell my home, especially now that debt forgiveness is no longer protected in 2014 due to expired legislation.2) I had better market it properly to make sure the short sale is approved.3) I had better vet the buyer properly to make sure they close the deal.4) I would prefer a cash offer to a financed offer.5) Cash offer from someone I know is accepted.That's it.

SO nothing out of the pocket of the tenants, but the evil landlords that work hard to provide a solid home for these people get screwed.That is just CHICAGO proper and nothing is stopping you from investing here or as I do, in other areas around Chicagoland where the laws are more even and fair.

I would contact a Real Estate Attorney to help write up the proper contratct for your state.

If you relax on some terms, it can be used against you in eviction court.If the tenant doesn't pay on time, hit them with proper notice.

A properly discharged mortgage debt relieves the borrower of deficiency but does not 'cancel' or remove the mortgage from the property.