Another simple solution is a seller carry back and then refi.

He bought a bad deal without the staying power to handle the negative cash flow.I'd put the value of this property at about $1.1M, less the cost of getting all the units into good shape, and less the carrying costs for the vacancy to do that work.

It could include actually carrying a loan on a property they own free and clear, wrapping an existing mortgage, land contracts, or lease options.I bought my first house many years ago with seller financing from an elderly seller who didn't need the cash immediately, and was happy to carry a note and collect the extra money from the interest.

Get the owner to do a 100% carry of your agreed upon price at reasonable terms and at least a five year balloon.

I recommend that you send (1) certified and (1) hand carry.

I wanted advice on how to talk with investor/homeowner and how to make it seem like i'm not swindling them and actually am providing assistance.For example, i wrote an LOI on a home that is in dire need of rehab ARV is probably around 300k and i wrote 135k seller carry or 100k cash and she was hesitant.

., owner carry of a second with no payments for five years).

Before I get into the meat of my question, I just want to say that I saw a post elsewhere (http://activerain.com/blogsview/459350/Ive-Sold-and-Carried-Paper-Can-I-Still-Close-My-1031-Exchange) that shows the caliber of talent we have here on BP.

Collect a down payment and carry the note for 3 years.

.- I will carry the mortgage and a lot of risk, but is there anything illegal in this setup?