The notice of Seizure has the balance due on principal of fixed rate note at $116,781.32 with interest from June 1, 2011 until paid in full at 6.5% per annum to be computed interest.  

Or would it just be rolled into the principal balance on your loan?  

Also, this is a little out there, but I will be making a $25K payment to the bank immediately after closing..Now when I make that payment, the principal will drop a good amount.

I suggest you find an expert to strategize with in this regard.If you have a qualifying credit score (min 620 + ) and you have the min down payment you can qualify for a conventional fannie mae non owner occupied home with the assumption that this formula results in a positive number (below):75% of potential gross income - PITIA (principal/interest/taxes/insurance/assessments) = positive numberThe above also assumes you have $0 dollars of liability as well in monthly obligations (credit cards, lines of credit, other mortgages, etc).I've checked with my head underwriters on this and have done loans for people who had no earned/working/self employed income or were not even employed at all.

You could be charged by the Principal Broker a % of each commission earned, or they could charge you a flat rate per transaction.  

I think she's saying that TI, water, etc is $400-$500, leaving $1900-2000 before principal, interest and other expenses.Agreed that best case $2400 income and $2000 in fixed expenses would be an outrageous non-starter.

As you and your wife are the only principals, I don't know that an LLC would be a particularly good strategy for you.  

Remember, unless the Broker has limited power of attorney, he is NOT a principal party to the contract.

So this goes back to the fundamental principal that if you have 500,000 to invest.

He is open to a principal only seller financing and a decent down payment with a five year term and a balloon payment or he wants 50% down, $500 a month for 8 years.