There are no govt. funds for L/Os there are govt guaranteed loans that can be used for the purchase through an option taken.The only lease subsidy to landlords is Section 8.

The most commonly used list is Absentee Owners, because there will always be tired landlords ready to sell When I first got started, I got my absentees from the county's Tax Appraisal District.

Section 8 pays the landlords directly through the direct deposit every month.

I am going to get an inspection done but in the meantime there are a few things that concern me. 1.The landlord (seems like a nice guy) is way too lenient in my opinion.

I've always wanted to try landlording and now I have an opportunity.

I also wonder about the tax impact (full recognition of capital gains at time of "sale") if this is done at scale where the seller may be construed as a "dealer".In my area, quite a few landlords seem to be converting their existing rentals to land contract deals, to get out of the landlording liability and transfer the maint to the buyer, while still maintaining the ability to evict (rather than foreclose) within the first 5 years.

Brandon Turner great point....i think it really boils down to you....when i first started out, which is not that long ago, i went to the local REIA, and LITERALLY shook as many hands as i possibly could...later that night it actually worked out perfect for me. i met one of teh biggest landlords there that night....at first it started of really slow, but i would call reguarly just sto start a conversation, just to keep me in front of his mind.

It's a great way to get your feet wet in landlording.

My background: I became an accidental landlord about 6 years ago.

Some facts:- I am in South Carolina- I have read the SC Landlord Tenant Act to no avail- I have searched the forums, also to no avail- My "mentor" has no experience in the situation- Spoke with foreclosure attorney - said to evict them and told me which magistrate to go seeI look forward to your replies.Shaine