The product (providing affordable housing in the form of a mobile home) is not illegal in itself but the method of delivering this product (owner-financing the mobile home) is in question.

There wasn't much on ways of appraising, even though one of the practice tests was heavily testing methods of appraisal.For sure read through the vocab pack that you get.

I have done numerous Lease option transactions as I indicated in a previous response to you over 10 years ago.

If the intent is to build a reserve fund for maintenance/capex items, then another method of addressing this that a local investor shared with me recently is to set that money aside up front, and consider it part of your acquisition costs.

Thanks @Kevin PfeifferI hate waiting also but you can keep active with submitting numerous offers every day.If submitted in a professional manner there shouldn't be to much drama from the sellers side.I do tell the agent or seller that this is just my opinion of what the property is worth and that I could be wrong.

@Angelique A.Hi Angelique,I have done numerous JV deals in the past where investors would purchase the property and pay for rehab and we would split all of the profits once the property was sold.The were the money partner and all other work was done by me.I did have long term established relationships with these investors tho.Thanks

@Brant Richardson and @dave krulacI work as a Mortgage Broker with numerous lenders, the answer can vary.

You will weed out the wannabees very very quick.So in the end any and all methods you can come up with are fine. nothing wrong CL.

It's so exciting and inspiring to read about other folks who set their real estate numerical goals and exceeded them!

So, at 8% you're already being compensated for the increased risk of the smaller down payment and this is the method of managing loan risk.