I would check locally if there any laws that may effect on a rental.  

In tenancy in common, death of one of the parties shall have the effect of transferring the rights of the decedent tenant in favor of his heirs.

Hi @Jason Burr,Installment sale transactions often referred to as Seller Carried Back Notes or Seller Financing can be a very effective way to help the seller get out of their property and spread taxable gain over the term of the note (depreciation recapture would be taxable in the year of sale, capital gains would be deferred over the term of the note).However, you might get pushed back from the seller because it does trigger their taxable gain and they may not wish to do so.

Your RE license has no effect on your tax return.

It is a counter-balance effect.

Hi,So I am digging into the seller financing option since it seems like a very effective method for getting in with little money down and not having to deal with banks.Something I am wondering about, is if the seller financing option works like a regular loan where you can refinance and just pay off the principal at any point. 

My printer does all of that, and I'd like to think it helps to be more efficient and effective in my DM efforts.Happy to share his info if interested- good luck!

Typing out all the possibilities & explaining the combination lease back & 1031 would be arduous .In a nutshell, for an effective solution you need to calculate her gain & then brainstorm solutions to solve the sellers situation.

. ;)  But there is a very good reason for that--the only person qualified to give you advice about the legal effect of any contract, how it will affect you, and how you should paper your transaction is an attorney that you hire.  

Experts say that younger is usually better when you’re planting trees, but if you’re selling within three to five years, you’ll need some size to get the full effect.