@Jack B This is a pretty common strategy buyers use to tie a property up.

If I pursued the 1st strategy, how common is it for local/regional banks to make residential loans to LLCs with personal guaranteees?

I don’t know what kind of land I’m looking at.By the way, this doesn’t mean my perspective is correct.

Is it common that when they look at modification and working out the loans, they would not have looked that far ahead to see she would be getting steady income?

-Razan  Hi Razan, welcome.Your question is kind of up to you and your comfort level.

Hey BP,I've been thinking recently on a topic that surprised me when I realized I had kind of thought this way my whole life and that is - going across the river to Illinois.To be more specific, I grew up in O'Fallon.

What kind of work will be needed for the turnover? 

Seems there is no "common" way to pay yourself since everyone has a different strategy and each strategy will ultimately determine the best way to earn a living.

Its kind of natural that you will probably attract more buyers in the beginning.   

Because you do see this kind of stuff all the time.