BienesNot a lawyer, but in most cases, when you rent to multiple parties it is treated as if they are one, each responsible for the full amount of the rent each month.

A seller is looking at doing owner financing.I would be wrapping his note.Property insurance is not escrowed so that causes fewer issues.Sellers main concern is that we owner finance and in say 3 years I get tired and just give the property back to him.I am putting nothing down which he is fine with.Looking for thoughts and ways to make him feel comfortable with this issue.He owns other classes of assets besides apartments and is focused on them.I already own a bunch of other buildings in the area and told him I have staff on site so it wouldn't be an issue.This is for a quad building.Many investors buy with one thing in mind and then sell to you down the road for other reasons.Since I am a commercial broker I have multiple exit strategies already planned out for the property.

At least 5 of them, and I am sure BP has multiple investors that have attended these sort of events.

I say of course, start writing the offer while i go look at it, but I will bet it is in multiple offers already.

The sessions will run from probably 8am until 5pm and there will be multiple sessions happening at the same time.

Running multiple rehab projects efficiently, making the best use of your assistant, when is the right time to get an assistant, time management, how to reinvest back in your business.

Do you know where i can find a pro forma like that for managing multiple single family homes?

I'd bet the "They bought the call option that is now worthless" and "Too freaking bad" approaches taken by investors engaging in deals like this is why that law exists.I'd bet if you said to these buyers "you bought a call option that's now worthless" that they would look at you with the deer in the headlights look.Having said all of that you likely shouldn't have sold them an option to start with because the investment is not suitable for unsophisticated buyers.

I have multiple sources for non-traditional financing in Buffalo.

If there are multiple members, then by default the LLC will be treated as a partnership, unless you elect to be treated as an S-Corp, or C-Corp.