Middle age couple with high income, no kids to spend it on, and a busy life where they have little interest in pursuing real estate on their own either.

I've entered into a contract to purchase a 3 bd, 1.5 bth 1600 square foot HUD foreclosure in Blue Springs, MO (middle class suburb of KC) for $49,500 CASH.

I take the tenant to see properties for sale and they pick the property that they want to rent.You may ask "Why doesn't the prospect just buy the house themselves and cut out the middle man (me)?"

I use to live on the other side of the island (Saint-Jean-sur-Richelieu) and then in the middle (rue Saint-Denis) many, many years ago.As you have already noted, there is a welcoming and encouraging community here on BP with lots of experience and sage advice.While much of the information you will find here is universal, but in the areas of finance, regulation and taxation things are a little difference here in Canada (particulierement au Québec) - working in credit at RBC, you may already be familiar with the distinctions.Investing in real estate as part of your portfolio is a wise idea and if I can be of any assistance, just drop a note.

A bit run down now but with the potential to be nice, working class (can we use that word in America, or are we all "middle class" now?)

Secondly, most homeowners won't think to ask for a credit report anyways, so I wouldn't worry too much about it, especially when you tell them you are an investor and just a "middle man."

It's seen as a country thing, but this park is located in the middle of the city, where single-family homes can be purchased at a price point of $60k-$100k in the same general area.

I tried to crack open the discussion of what about OF's outside the middle ground within DF?

How do you handle a new tenant's first month's rent when they move in during the middle of a month?

Usually they will amortize the loan across 30 years but have a balloon note after 3 or 5 or 7 or whatever you guys want.I currently have a property I'm asking just over 10% down, 6.5% interest, 30 year amortization with a balloon (due) in 5 years.The biggest plus right now for owner financing is that you're usually saving the pain of getting traditional financing if you don't qualify or just trying to keep another loan off the credit report.I would suggest a loan servicing company handles the monthly transactions too so there's a middle man and both sides are taken care of.Allen