They're a little more expensive than a standard lock, but way cheaper and faster than a locksmith.Note that these are not electronic locks (although they do offer electronic versions).

Because the purchase price would have made the loan below lending standards (49k for each one), I had to get creative and buy them both for cash.

Her incentive to do this is that she'd rather loose $20,000 than the entire $66,000 she has in equity.Clearly, I need to verify the creditworthiness of the buyer, verify that they will in fact be able to refinance, verify they have strong homeowners insurance, walk the property, get title insurance, have lawyers draft the needed documents, and make sure it's all properly recorded and collateralized.

I'm planning to turn at least one of the 1/1's into a vacation rental which should earn at least 1200/mo (very conservative estimate, probably higher).Purchase price: 295,000Down payment: 25%, $73,750Loan term: 30 yearsInterest rate: 5.375%P&I: $1238.94/moClosing costs: $2800Gross scheduled income: currently $2650/mo, I'm planning on $3000/mo minimum with STR, so $36,000/yearLess Vacancy/Repairs: 10% = $3600*Gross Operating Income: $32,400Less taxes ($4700 (high estimate)), Insurance ($900), and Water/Sewer ($1800):  $7400Net Operating Income: $25,000Less Debt Service: $14,867Before Tax Cash Flow: $10,133CAP rate: 8.47%COC: 13.24%*yes, I know that's low for Vacancy/Repairs/CapEx, thats because we do our own work and management.  

@Riley Blake  FHA does require upfront MIP (mortgage insurance premium) of 1.75%. 

It is always important that you set firm screening standards and never waver.

Depends on what your state's standard forms look like.

What finally helped me make the decision was when I looked at the equity I was pulling out (after realtor fees, and buyers closing costs which are standard in that area).

Sounds like a non starter.......there would be no payment history so it would sell at a Big discount and those note buyers are looking for Larger yields and Lower LTV’s than your standard refi.  

Current revenue streams:1)W2 Job- Licensed Insurance agent for Property & Casualty and Life2) Amazon FBA/Ebay selling3) Window Cleaning Biz- Have two clients so not much revenue coming from thisI have been really procrastinating on doing my notary class.