My thoughts are with the rehab the house needs I should get an appraisal on its current state.... buy him out with it current value then my sons and I would put in the work to rehab the place to turn into a rental.  

Currently, I reside in Washington State, but I am keen on investing in the Houston area.I have noticed that many properties have become quite expensive.

It also matters what kind of property it is as single family residences are priced differently than condos or 2-4 units.Also, the state matters as different lenders operate in some states but not others. 

She states there's still multiple offers and its a sellers market.

This guy, Leland von Syring of Charter Financial claims to have been around since 1997 with his company in the note business, and to me it doesn't seem to be a scam or anything.

I think they let the tax collector take it since it doesn't really hurt their credit like how an IRS bill or state tax bill would. 

@Ritz NA, you need to talk to a real estate lawyer in your state.

Thanks, Gary Neely Gary, Just use you standard state contract and write out the terms of your seller financing in an addendum or on the OTP itself if there's lines for additional provisions.Be clear and concise.Example,Seller will carry a promissory note secured by a 1st position mortgage in the amount $97,583.00, at 6% interest, amortized over 30 years, witha a maturity date and balloon payment due 10 years after the closing date.Hope this helps and certainly get an attorney involved if you are not comfortable drafting the language.  

Howdy BP Houstonians,I'm looking for recommendations for investor friendly title companies in Houston. 

.- Flexible transactions make it easier to sell, transfer, or refinance individual properties.Considerations- State variations mean that not all states recognize Series LLCs.- Management complexity necessitates careful documentation and legal compliance.- Lender familiarity issues arise as some lenders may not understand Series LLCs, thereby complicating financing.A Series LLC offers a streamlined, protective, and flexible way to manage multiple real estate investments.Thanks,