It's more of a survey. 

@Bruce MichaudHaving a brokerage account inside of an IRA owned LLC is a very common strategy and a way, as you indicate, to keep idle capital and the income from your non-traditional assets productively deployed.The LLC should be the account holder and the LLC EIN should be associated with the account.  

This is because of issues associated with Dodd-Frank’s lending rules.

Do you have significant assets or multiple properties that need protection, or if you're just starting out and you have less on the line, and the extra cost of a commercial loan is significant to you, you have to weigh the potential impact and risks associated with each.

After PSA is signed then lender deposit is sent in and reports are ordered (environmental, site inspection, survey, appraisal,etc.) during due diligence period in the PSA ( we typically do 45 day close and the first 30 days of that are due diligence).

We learned there are more costs associated with renting out your home the hard way.

However if you include Debt Service, it's suddenly more like 4.8%, not as exciting.The Association maintains the building, takes care of all the common area maintenance, flood/fire/liability insurance and maintains accounts for all the large capex (new roof etc).Right now it is one large unit made up of 4 smaller units which is occupied by a tenant who would stay in place.  

For our CPA, we use Sussman and Associates, Inc  out of Wadsworth, Vicki is very knowledgeable.

Are there any risks associated with this  option for the seller? 

@William Hochstedler  Yes, the length of time before the Statute of Limitations can be used is very state specific, http://www.bankrate.com/finance/credit-cards/state-statutes-of-limitations-for-old-debts-1.aspx  but the general principle is broadly accepted and a statute of limitations defense is available in every state. http://www.nolo.com/legal-encyclopedia/statute-of-limitations-state-laws-chart-29941.html  However some states do exclude mortgages. http://www.americanbar.org/groups/litigation/committees/realestate/news_analysis/news_developments_2015/state-mortgage-foreclosure-statute-of-limitations.html  Here is a quote from the above link to the American bar association website regarding using the various state Statutes of Limitations in regard to mortgage liens.As a result, it is not uncommon today for a mortgage to have been in default for five years, six years, or even longer before a foreclosure is finally commenced or reactivated.