Hi Phillip, ....just a couple quick thoughts on this:  a. on real property, that agreement (assuming it is not labeled a lease-purchaser) would be called a land contract (or contract for deed) and the case would likely be strong that the Buyer would be responsible for repairs; however, with personal property as a mobile home, this type of agreement would likely be treated as an installment purchase...but technically renting until the purchase is complete and title transferred.; and b. when cases are presented in municipal courts regarding rents, defaults, landlord neglect, the landlord-tenant laws and courts would favor the tenant and hold the landlord responsible for Repairs (particularly as it concerns keeping the unit "tenable"). 

I don't want to hand address, but I also don't want to print labels.

But hoa Foreclosures sure as hell don't wipe out 1st mtg.s here, so I'd be suspicious of that label.

A CPA can tell you what you need to do so that the IRS doesn't label you as a distributor.

Additionally, if you are going to flip more than 1 house per year, it will make sense to operate this business separate from your rental business for a few reasons. 1) If you flip too many houses you will get a dealer label with the IRS.

Under this if you make passive income with one property in less than 12 months it is taxed as short term capital gains and labeled under ordinary income.

In addition, the market for private label MBS is making some headway.  

Putting those together, we came up with an updated version of the map, bringing the comparison up to date with the most recent data.For each state, the map is labeled with the country whose 2014 estimated purchasing power parity GDP is closest to the 2014 nominal GDP of that state:Read more: http://www.businessinsider.com/state-and-country-gdp-comparison-map-2015-6#ixzz3d2trxLqWFULL ARTICLE

A chronic key loser that's calling me at 2 AM a couple times a week?

I used Kiltz with the blue label as suggested.