Tenant left, and, again, with my Realtor and trusted contractor, made $5k in repairs and improvements to make it sale ready, taking total investment to about $158k.

(long story, not very interesting read) It's a balloon at sale or maturity of the first loan.Anyway, I plan on recording it in second position.

@Rhyna OrillanedaThat like asking Petco if they sell pet food.

I know I could risk it and see if the bank acts on the "due on sale" clause, that is not the question. 

The profits would then get re-invested into the next home and continue the trend until I am able to able to build the next home with the profits that were made from previous sales.

Can I still approach a short sale with seller financing?

South Carolina being a lien theory state, one would normally have an attorney draft a mortgage (which creates a lien on the property and makes the full balance due upon sale) and promissory note (which outlines the payment terms, interest, etc).

@Jesse Lewis I think a good question is, do you have any experience in sales?

Purchase price: $195,000 Cash invested: $40,000 Sale price: $260,000 Home was located in a awesome school district.

I have a lot near Knoxville, TN bought at a Tax Sale.