Mostly folks who become RE rich but cash poor while they wait.I sent you a PM on a related item.

Even if the housing market has a nice uptick and people start really scratching for homes near the train areas, this could be a $425k home in relatively little time, in my opinion.There are sellers of "rental homes" in rundown neighborhoods where I would never want to live.

The IRS rules for not paying the tax on the gain are not going to work all that well if you cook up a sale like you are suggesting.You might be able to sell to a related party (sister or an LLC you own).

A related issue is recording of the option.

I have been trolling the forum for some time, and finally decided to get more involved.There are so many forums related to Real Estate Investing now that you have to be very picky on where you place your efforts.Well, I am a Realtor, shocking?

You might post in some of the landlord related forums to get a discussion going specific to your issues.We bought our first house in Texas 20 years ago with seller financing.

The plan I have set out is as follows; a) move to a state where housing is still relatively cheap and easy to finance (I only have 7k in cash).

The plan I have set out is as follows;a) move to a state where housing is still relatively cheap and easy to finance (I only have 7k in cash).

Can anyone recommend a basic property management software program for a relatively small, home-based operation?

I consulted many real estate owners on 1031 exchanges and tax planning as it relates to the real estate business.