I just didn't expect the complications to be with the long-term financing.

I have done this before and it can get complicated.

The higher barrier of entry and more complicated projects like this weed out competition and produce juicy yields.

My process might be more complicated than what you need but it’s the way I keep the paper trail straight. (1) transfer the full deposit account balance from tenant security deposit account to business checking account. (2) write a check for full security deposit account balance less any deductions for damages if applicable.

I definitely need to look into this deeper to see if there would be any complications that could arise by doing so.

@Charisse RyanBankruptcy proceedings are very complicated, and if the bankrupt’s attorney doesn’t fully explain all details to his client, his client may be under false impressions.

To make matters a little more complicated, if you are currently self-employed, you are not allowed to declare 100% of your income.

I sent you the spreadsheet, its nothing too complicated.

I suggest: Just bank finance exit, don't get in deep by trying to seller finance to an occupant, many Dodd Frank issues, that are solvable , but why complicate this sale.

Note that FHA and USDA loans have mortgage insurance, but do not have private mortgage insurance, so this isn't applicable to them.It's actually pretty complicated; sufficiently so that I try my best to answer "when can I drop my PMI?"