these are just a few.Do they have all of the security depositsLook at least 2-3 years of P & L statementsHas this owner that is retiring been involved daily and holding the owners hands, or does he have a staff to handle day to day?

It's paid upfront and packaged into your closing costs regardless.

I have been a paramedic for 24 years and have now decided it's time to work for myself and secure my son's college, my retirement and my future in general.

However, some smaller local banks and credit unions will offer a secured line of credit for 70%ish LTV and will place a lien on the home as security, however you have no payments if you don't use the funds, and rates are pretty reasonable (I'm at 5.5%).

When getting financing from a financial institution they will issue an IOU note called a promissory note which secures the loan and details the terms, repayment, penalties, etc.

Armed security 24/ 7  etc etc..

I certainly did not, and neither did the mortgage lender who  pre-qualified me.After closing on the HELOC  this week, I was reading through the docs last night and stumbled upon the Occupancy clause :"Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control"So I'm not sure what to do.  

If at the end of the time I have not been able to secure a buyer, we can either part ways as friends or we can look at lowering the price and I can send it back out to my buyers again.

I know of four triplex buildings for sale in Central Phoenix being sold as a package ($920k-owner willing to finance).Let me know how I can help.Cheers to your success!

How did you get over the obstacle of securing your first deal?