IMO the two statements I have snipped from your post seem contradictory.

I definitely second that statement.

I don't mind personally guaranteeing the loan, but it'd be nice if the primary borrower was the LLC, and I could personally have no real estate ownership, income, or expenses to muddy up my balance sheet and income statement, just the ownership in the holding LLC.

When creating the loan the Owner would reference the Applicable Federal Rate for the month the loan was written and set the interest rate at a rate greater or equal to the Applicable Federal Rate.Must report to the IRS the total amount of interest paid by the buyer at the end of each year. (1098 mortgage interest statements)Seller must record the buyers payment, calculate the changes to the principal and interest, subtract the appropriate amount for property taxes and insurance.The buyer can destroy the contents or the property and let it fall into foreclosure and all the seller would receive back is the property.Buyer advantages:Easy qualification, buyer can have poor credit and still qualify for note.No loan costs.Faster Closing then having to wait on a bank to qualify and close the deal.The buyer has time to repair their credit and then try to qualify for a conventional (bank) loan with a better interest rateThe main hurdle you have is in how you approach the home owner.

I really should think that that leaves less comment to be desired from people who take offense to any statement made here.

CW, I just added to my disclosure a statement along the lines of "Homeowner understands they must vacate the property at least 48 hours prior to scheduled closing"Not sure how effective it will be, but at least I got it in writing they understand they aren't living there rent free forever.

Please do not read something into my statement that is not there.

I will probably draw some fire from this next statement but I will take it.

I've already developed my goodwill letters to hopefully get that statement off the report.

., company contact)4) last statement from any savings accounts, IRAs, 401ks, etc.5) Copy of drivers licenses6) Two years tax returnsDo the closing at a title company.