Prefab and modular projects often require a different draw schedule than stick built homes.

Although I have knowledge and experience in my local market, I am most interested in some out-of-state options as I like those opportunities better than what I have locally but know little about where to begin evaluating those markets and the pros and cons of the different states.

@Matt Randall, there are different loan option terms including 30 year fixed fully amortizing loans or 40 year fixed with 10 years of interest only and then 30 years fully amortizing. 

How long it takes to be financially ready is different for everyone.

Honestly, I just wanted to spread some helpful info across various groups because I know folks hang out in different spots and might be into different things.

Start with the monthly nut that you need to cover: those are your numbers and they'll be different for everybody. 

Applicability of the tax or legal principles discussed in this material may differ substantially in individual situations.

The main hurdle that many of our borrowers face are the income aspect of it, especially expensive markets like the West coast.

I have suspicions they are not managing as effectively as you may believe and this may warrant a look at a different PM firm rather than piecing together the services and taking on additional responsibilities. 

Keep in mind that seller financing will work mainly if the seller owns the property out right - if not, the seller will have to check with their bank if they're allowed to even carry a note.