If you want to do more research try Derick Polder at Cross Country Mortgage.

.- Financing seems much riskier, since you have to make the mortgage payments regardless if you have a tenant or not if you finance, but if you own not having a tenant would stink, but you still are getting the appreciation and the risk of going negative cash flow is MUCH less.Thanks -I am really interested in hearing different viewpoints.

The mortgage payment is going to hurt us without a tenant, so we really need to get this moving.

This will help you pay down your mortgage and if need to you can rehab the place while living there.

You are looking at a $120,000 home, have only $5000 to put down, and looking at 30 years of $900/mo mortgage.

With 20% down and interest of 7.12 yearly mortgage is around 56k.

Cannot have your cake and eat it too (take the payments but then say invalid contract)If it’s a contract for deed (which sucks in Missouri as it would have been faster to have a traditional deed of trust and note), it may state they are responsible for upkeep of the propertyBut if there are no violations and they are making payments you will have a difficult argument to take property backAs mentioned get an attorney  depending on the debt instrument used virtually all of them have what is called  EVENTS of DEFAULT.These include:Non payment of mortgage when due.Non payment of Tax's and or insurance.WASTE  and that is what you have if you can easily prove it..

In filing taxes, there is a how much mortage are you "responsible for" question, in relation to how much mortgage interest I can deduct on my tax return. 

Very few episode don't include plugs for his brokerage business and his mortgage company. 

The property stops making sense at around an 8% mortgage.