I hope I explained this clearly for everyone.

Tell them at least you made some of the payments, and now they have the house back to sell again.Your best bet would be to find a house the owner owns free and clear, and get them to do plain and simple owner financing.

Cap rate calculations are done with the premise that the property is owned free and clear.

I didn't make his position clear enough - if the property is owned by an LLC (members being my husband and myself) then the income percentage can be set by the LLC.

Dustin, If he's buying properties that have an acquisition cost of $100K ($70K + $30K rehab), then $70k from a refi wouldn't even buy him 1 property free an clear.

They're going to call Section 8 and complain that YOU have been forcing them to pay rent in clear violation of the Section 8 regulations.

sorry but have i can receive 3%, can u make this a bit clear

It's always more clear to me when I see real life examples, thanks.

Sorry if I mis-use any terminology -- real estate is clearly not my area of expertise :)

Not 100% clear on your questions here, but my suggestion would be to setup an LLC spelling out the partnership specifics and how the profits are suppose to be split.