Various state have enacted various laws with the intent of protected purchasers in contract for deed situations by trying to rectify some of the most objectionable abuses.Since a formal foreclosure is not necessary in case of default, the process by which a seller/lender can foreclose is simpler, less costly and quicker.

@Matthew WrightLots of well intentioned but incorrect timelines for ME here. 

I also sent a certified letter to them regarding their intent to break the lease early.

If your intention is to flip, you cannot do 1031.

Regarding the repairs, I also intentionally kept that figure on the lower side because of the rehab that would take place right away.

Be honest about your intent.

Be clear about your intent and capability...do not make yourself look like a buyer if that is not your intent.

I expected to see the same kind of returns as my other property, but my best intentions and optimism don't count against effective calculations and market rates:)@Darius Ogloza So the $60 reflects my current HIKED rent rate...

I figured it must be fairly common for a parent to buy college housing with both the parent and the child on the deed and the loan and with the intent to rent out a room to someone else. 

So If I purchase a home as my primary residence with all 100% honest intent to live in it.