If you are going to owner finance, just realize there are restrictions to originating loans and requirements you will need to follow.

I don't deal with a lot of VA loans in my area so I am not familiar with what the restrictions are, but I imagine you won't be able to get many concurrent VA loans. 

If you don't understand these terms use the BP calculator and don't forget to input for vacancy and management fee.The beauty of a portfolio loan is that the property qualifies not you with your dti's etc. and doesn't cap you with 10 units, however they usually require the loan to be in a business entity like an LLC.Typically a portfolio loan is a 20-25 amortization but that varies from lender to lender so use shorter loan term in calculator.Ask about loan seasoning, if they require net worth minimum, geographic restrictions, prepays, if they can refi in an LLC so it doesn't show up on personal credit report.Hope that leads you in right direction.

Qualification restrictions are not as great as in conventional financing.

At the same time of the set backs restrict building and limit the size of the house it will be worth less.Once you get the property under contract the best buyers are developers that just sold something, they can 1031 exchange into your deal and pay cash.

If you are purchasing need to find out requirements for down payment.If you don't understand these terms use the BP calculator and don't forget to input for vacancy and management fee.The beauty of a portfolio loan is that the property qualifies not you with your dti's etc. and doesn't cap you with 10 units, however they usually require the loan to be in a business entity like an LLC.Typically a portfolio loan is a 20-25 amortization but that varies from lender to lender so use shorter loan term in calculator.Ask about loan seasoning, if they require net worth minimum, geographic restrictions, prepays, if they can refi in an LLC so it doesn't show up on personal credit report.Hope that leads you in right direction.

Non-compete agreements can often be thrown out when there are undue restrictions placed on trade or the right to work.Gurus I understand often use such agreements, in their programs and as documents to use for RE transactions, but I would suggest you pass such agreements past your local attorney to see how they might fly in your area.

The IRS has restricted certain transactions between the IRA and a “disqualified person”.

Also it is a good thing you pointed out the 203K restrictions which I was not aware of.Jeff Sielicky, My loan officer I talked to said it will not be an issue, but after reading Jon Holdman's reply I did some investigation and found out financing it intentionally as a primary only to make it an investment would be mortgage fraud.

Accounting rules are easy so and the govt/att generals are putting lots of pressure to restrict REOs.