Much better than what you described your property to be.It boils down to this - the neighbors are tired of looking at a vacant house next door and they are blowing up the phones at the Town Hall!

The experienced RE attorney who shared this tactic described it as providing the seller a contractual remedy that allowed them to give a 60 day notice for nonpayment and then taking title if the payments didn't resume, similar to a foreclosure, but without the credit hit or auction).Said attorney recommended that I as a Sub2 buyer put this clause in for the seller so that if I become unable to pay, my seller will have a contractual remedy.

If the larger lot is much bigger for the area, it would or could be less as I described, but a minimum building lot here is 5,000 sq ft, so I'd not see any adjustment due to excess land. :)

what you described has been described to me ever since the 1980s about apartment investing in Dallas and Houston there was some pretty big SF bay area players that went to those markets in the 80's and early 90's that ended up losing their buildings to foreclosure for those exact reasons...

@Guy Raveh What you have describe is very common amongst investors.

This is an example  of zero money down investing by creative financing.jamesHi James, The strategy you describe isn't called "double close" is it?

Cash flow is nice but appreciation is what we expect with premium properties as your describing.

As part of my next project, I potentially would want to look into similar places as you described: 3-4 units in newark area. 

Is there a good book that describes how to invest in self-storage?

BURKEMPER TRUSTEE'S SALE -- Default having been made in the payment of a Promissory Note described in and secured by Deed of Trust executed by HAROLD W.