They see collecting from tax cheats as the easiest way to do this. 

We missed out on a great spring and half the summer, but it's still bringing in great off-season numbers and we're excited about next year.

Their terms are purchase price of $199,000, $5000 down payment (which I have no problem), remaining balance to be carried at 5% for "a while" they say, a monthly payment to them of $1,080, plus half of insurance and taxes to be paid by me which the owner figures is about $300 a month plus all utilities on me.

Seems to me cash would be the easiest way to go about this transaction so that’s how we will be doing it.

Move the washer and dryer out of the 8'x6.5' room to create a "half bedroom".

ORc) Is this amount at 70 cent for every $100 and assessed at HALF of my latest mortgage balance?

(Unless you have the VA loan, in which case, VA buyers don't have this rule to follow).A trick I have found and proven that's easiest to get a launch into real estate investing is "flipping" 2-4 units.

Finding the right guy is half the battle.

@Lamont Marable No.The money the seller receives goes into 4 buckets….1) interest income, taxed as ordinary/interest incomeOf the principal payments rec’d, including the down payment…2) return of basis ie. if he sold it for twice what he paid for it (accounting for actual sales/closing cost) 1/2 would be return of basis, no tax3) the other half of principal would be taxed as cap gains4) as he receives principal he will also be liable for depreciation recapture tax

Along with a few other half days just to get this funding.