Because the FHA loan is assumable I am offering seller financing to cover the remaining balance of the purchase price less the loan balance.I'm wondering how I handle seller financing.

I am using the 50% for expense rule, after that and paying the mortgage from the remaining 50% I want at least $250 to manage a door/unit.  

.$500 for 1,000 stamps$200 for 1,000 names/address from Listsource$25 for 2 X 12 packs of yellow pads. 50 pages per pad from OfficeDepot$30 for 1000 envelopes from OfficeDepot$12 for Pilot G-2 pens from OfficeDepotThis is only $787, keep the remaining $223 in a bank account for right now.Send out 25 yellow letters a day, everyday, for one month.  

Rent will increase with inflation, but his payment stays the same.

That being said I think the market's inflated right now for buying to hold.  

They will not pass an appraisal if they are inflated like that.

you already have it in writing that you are the new owner and all payments would go to you. you just need to notify the tenants that the payments will now be made to you and to send it to your address and that all provisions of the signed lease remain in effect.

The surplus of construction in previous years has allowed national vacancies to remain well below long-term averages.In large metropolitan cities, current construction projects are exceeding historical averages.

Now I realize land trusts as rentals are a way for slum lords to remain anonymous.

Example:Purchase Duplex property for $80KDown payment $20K (plus closing costs$60K loanNo Rehab Refi 6 months later 70% LTV ($80K Value) with New loan $56K$60K - $56K = $4K remaining on original loan.