@Hadar OrkibiYes I would have an attorney come up with a legal document.

Do not rely on it for legal advice.

It's three years later and we still owe around $30,000 in credit card debt.

While the contract will give a psychological feeling of the “deal is done” in the seller’s mind, it won’t be binding....she doesn’t have the legal ability to sell the husband’s half yet.

I'm selling my home to paying debt and start investing in rental properties.

The key here is not necessarily the numbers more about the tactic and if it’s LEGAL and POSSIBLE To DO it like this or if any one has tried anything similar to this: Property purchase price: 80,000Estimated Rehab cost : 45,000Property ARV: 175,000Hard money Loan used for : DOWN PAYMENT & FIXED COST.Down Payment: 16,000FIXED COST : 18,000 35,000 ( added an extra grand ) HML 35,000 @ 15% interest with 6 points Total: 46,250LOC used for REHAB : 45,000 @ 3 % interest.Total 47,000HML + LOC = 93,250Remaining Balance On House : 64,000 @jasonDiClementeHML + LOC + RBOH= 157,250House sells for 175,000 SP - HML-LOC-RBOH = 17,750 profit - tax about 11,000 grand ... not really a big number but like I said it’s all hypothetical.

@Blaine Alger It's legal.

This type of legal work is expensive. 

Legally, I can only increase rents by 1.8% under new ownership unless there is a capital expenditure or significant increase in property taxes that justify it. 

As a legal analogy, in jury selection, many folks believe what they see on legal TV shows is an accurate representation to our criminal justice system.