and No sorry, I don't have an uncle like Warren Buffett to borrow the 30% down, but I wish I did.

If I may offer an idea should this be a rental property, years ago I stopped doing a typical lease and converted to a Lease with Option to Buy.

Adjustable rate, wide terms, call features, they can stop the line of credit, just not a good way to go for any long term need. :)

It could be considered a mistake and a contributor to slow payments.For years, I have always let my borrowers and tenants select the due date.

I stopped using them because they are more expensive than alternatives that are now out there.

Thanks, ive bought and borrowed many books, and still dont feel like i know enough to get my foot in the door.

This means the borrower may fail to meet loan requirements and be required to pay additional amounts, but the seller simply receives less loan proceeds but at the agreed price as adjusted.

There are a lot of good resources on here, so please don't stop at my response to answer your question.

As it stands now if you were to proceed and she stopped paying you would end up with a tax lien on your property you now have to pay effectively setting you up to pay 55K for the property.

Everyone is going to find this crazy, but my experience has been excellent using this screening method.I never have a potential tenant or borrower fill out an application.