Manhattan, not many ground leases in rest of America.

The rest is really all about you.

Since it came in the friend's name as return address we believe this is the first time this person is paying rent.IMO I would also only put them on a official lease if I ran them through a full blown background and reference check. 

Hi Jefferson,Hospitals employ a lot of people and other than the top doctors, a lot of the rest of them are looking for a place to rent. 

The signed agreement states the rules.Guess who wins if the old lady falls and is hospitalized for the rest of her life?

Edmond is a little weird when you run comps though because "rental grade" in Edmond is different than a lot of the rest of the metro.

Well, Mom (rest her soul) thought it was "cool" I guess.After the first tenant (who suffered in quiet dignity coz the price was right), we got wise and painted everything a more neutral color.

ie put some money down and get a loan for the rest. 

Also, you should look into rate term refi'ing the HELOC and primary into your new loan.Because of inflation, the money you spend today is the most expensive money you will spend for the rest of your life.

@Anson YoungThank you very much for your reply - I'm sorry that I missed this and didn't get the notification.I'm still a little confused: if there's a mortgage owned on the property, wouldn't the owner just use their money from the sale of the property to pay off the mortgage and then keep the rest?