I didn't have any formal lease agreement which probably wasn't a great idea. 

Hypothetically, if I did not pay a month mortgage, the third party would have immediately notified the seller, initiated foreclosure, and sent formal demand for payment causing the entire balance to balloon immediately.

The people I have met that are super pumped up about it are people that watched one too many boiler room or wolf of Wall Street type movies and took the wrong message from it. if you need a place to hang your license and don’t want to be bothered with office formality it works but make sure you sell over $3,250,000 a year with a minimum of 3% commission or you are leaving money on the table if not losing money.

But, even those folks who are not formally educated can do well as we all have seen - it boils down to "the soft skills" that involve grit, determination, and relentless practice.

@V.G Jason  thanks   1) make sure you are  clear with aany agent  upfront that your plan is to use  seller financing  approach    2)  you might  get   formally   pre approved  with a lender  in case you find the  right property but the  seller  financingisnt possible 

Jeffrey's greatest chance at overall financial success in life is to work hard at a job (as in full or near full time), pursue education (formally and in areas of real estate), live frugally, and to invest as much money as possible as early as possible.

I feel in Seattle proper the SFR + MIL   will be  a  more  desirable  property   and  provide higher  appreciation  in the long term .....if you are in need of  financing for the new  property - make sure to get  formally pre approved  ( not pre  qualified ) for  both scenarios .......fyi - pricing will be  different for a  duplex  as  compared to a 2plex  and have  soem  different guidelines 

Not sure how it works in your state, or the state you'll end up in, but even with a lot of trades you'll need a two year degree unless you go to a formal trade school.

It took some negotiations.20% DP7.5% I/O for 5 yrsZero prepaySeparation clauseProjected cash flow 19K/yr as is with conservative underwritingNOTE: seller wants a 1% seller finance fee... very cunning...Actual cash should be around 30K/yr since I operate my own team.I plan to enter into formal contracts in the next 48 hours and a week later, as a formality.

At worst they offer incorrect and damaging information costing the recepient loss of money and time, and in some cases leading to damages to the people the “mentored” are dealing with .It is fashionable amongst those with limited formal edification to buy into the self servicing bs put forth by those selling the $20-40k programs that formal education is a waste of money and time, and actually may be harmful to your success.