If variable I would contact your mortgage company to get a reduced interest rate and a fixed loan.There are programs to reduce the rate even if you are not behind yet on the mortgage.You need to reduce the debt service so it doesn't kill your income.How much would you need to come up with to sell this property??

If this is a Section 8 tenant who wants to do a contract for deed (yes, there is a program according to this Federal Reserve Bank of Minneapolis article) make sure you know the guidelines of the program.

Insurance agents have some control on the price of your policy.

There is a lot less risk and more control when your eggs are in one basket that you understand really well and you know how to guard.

Doing the option correctly, means that you would need to record an memorandum of option with the county recorder, to demonstrate that you have equity in the property.This is a win win, the family gets the money they need ASAP, and you have the opportunity to sell and maximize your return on investment, while never "owning" to the property.Like JD Rockefeller said: "Own Nothing, Control Everything!"

Assuming the loan means that the actual loan is transferred in your name, not just having control of the property.

I'm not talking about "guru program" books, selling only one part of the puzzle.

My biggest impediment to expanding my business is that I'm a major control freak, and I wouldn't be comfortable investing in locations I'm unfamiliar with.

As far as HUD is concerned, not all departments that administer the program are run the same.

HAS ANYONE DONE A MASTER LEASE OR LEASE OPTION TO CONTROL A PROPERTY THEN RENT OUT TO SECTION 8 TENANTS GIVEN THE GUIDELINES FOR THE SECTION 8 PROGRAM?