Let me discuss with a tax preparer and see if this or the 1031 would be better for us.

My biggest piece of advice is to be prepared for your former tenant to blatantly lie...and just keep your cool through the whole thing.

At walk-through we have a checklist (which I have prepared ahead of time) & note anything else.

Yes, it should be very expensive to have someone prepare a 3114.  

There is a current thread mentioning how if you buy a note in Georgia, you have to have a license there.Well, I was getting prepared to buy some notes in the near future from someone like PPRnoteco.

You might suggest too that they contact a broker as they generally have more leeway in selecting funding sources.There are some underwriting issues that sway with the wind, I have not originated since the bubble and I have not investigated this particular issue, but just from the prudent lending area, the income from the contract should be considered to offset the underlying mortgage.Last tip, if your are doing these as the buyer, you might prepare a "loan package" of sorts on yourself.

You are likely better prepared than most other newbies out there.

While you are in the process over the next couple months I would recommend you study up on your state's landlord/tenant laws so you can be prepared.

Insurance agency, tax preparer, financial advisors, travel agency, hair salon, tanning beds, bead store, plumbing supply store, think about big stores you have been in that don't have a lot of people in them at once.

We are preparing a "pick your favorite upgrade" list for one SFH tenant.