I also wonder about the tax impact (full recognition of capital gains at time of "sale") if this is done at scale where the seller may be construed as a "dealer".In my area, quite a few landlords seem to be converting their existing rentals to land contract deals, to get out of the landlording liability and transfer the maint to the buyer, while still maintaining the ability to evict (rather than foreclose) within the first 5 years.

The Seller could pay the remaining down payment and you pay them back through a land contract.6.

Looks like you have the landlording part started.I grew up with real estate: so the understanding the market is ingrained from following my mom by watching her.I read a lot of investment book, majored in finance, did bookkeeping..Worked as RE agent for a few month (Asia)What I didn't know was: flipping : had to do one to understand Land lording: my flip didn't flip so learnt land lording on the fly Buy/selling: learnt each project from everyone involved from seller/buyer to inspectorsFinancing: learnt on each project just by talking to brokers/mortgage/bankNew construction : chose to work with builder on live in flip.

The lender is said to hold legal title, the borrower is said to hold equitable title.It the case of a land contract interest in real estate, like a car, the vendor (lender) holds legal title and the vendee (borrower) holds equitable title.In the case of a fee simple interest in real estate, which is what everybody is referring to in this thread, the lender holds neither legal nor equitable title, the borrower (fee simple owner) holds both.Take a look at one of those title reports one your mortgage broker desk, it will show owner/borrower with a fee simple interest in the property.Although there are similarities between cars and re, they are quite different.Hope I said that right.

Land alone will be appraised at 1.1M.

We are going through the survey and getting the land subdivided right know and I know that will be a question coming up soon.

In my farms, as long as the property wasn't in a war zone, land lords would have taken that at twice the price.

It was the vacant land, land lots, fractured construction projects.

You do not want to pay a 30x multiple for the land underneath it.

I don't know NOVA specifically, but I grew up in that area, and I would *guess* that you're looking at $100-150 per square to build, NOT INCLUDING land costs.The bigger question is what kind of experience and network do you have?