However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

I am newer to this but have done years of research, read books, and read numerous posts on this forum.

This will determine how you split it 

This is truly a fantastic place to connect, learn, and continue growing your real estate knowledge and network.Keep up the momentum, and feel free to reach out if you ever want to share more about your journey or need advice.

Our next LIVE Market Intelligence Workshop is coming up this November and we need your input!

I understanding is the TN has some crazy rules and regulations that complicate this process. 

I’m eager to learn from this community and hear your experiences.Thank you!

You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software.

What are some tips you used to find your favorite handy person?

*This post does not create a CPA-Client relationship.