In my area, they limit the unit density, so it's nice to know that nobody can come in and convert a bunch of old homes to 3+ units and kill the rental market.I like old homes as they tend to have a lot of character that you can't find in newer construction, but they can definitely be a lot more costly to do repairs if they weren't properly updated/converted over the years.

I'd probably have 6-7 different ads, posted 3 times each, spread out over the day, attempting to keep them on the first page as much as possible.

The Act also describes the matter as "any financing arrangement that provides for the transfer of title" and "any transaction that attempts to circumvent the intent" (of the Act) being included.The determination of any agreement that is deemed to be a financing agreement under the IRS Code would certainly be the focal point in determining any related tax matter.

Keep in mind the attempt to circumvent the intent of the act will be applied, a transaction will be viewed in the big picture not at a micro reading word for word of any agreement.

Being a straw man facilitating a commercial loan could have issues.If you're flipping a contract, attempting to have financing terms agreed to and then have someone assume that financing without specific consent by the seller will be another big issue.It's best that you stay out of the financing side and allow the seller and end buyer to devise the deal. :)

Plan to spend some serious learning time on the first few attempts.

And as I stated previously, the place is literally surrounded by other commercial property, begging the question as to why nobody else had attempted to make this change before.

Seemed like a solid character.

Sometimes you give these characters more credit than they deserve when you think they are executing some scheme to outwit potential buyers.

I'm just getting started in this business and will take everything said here seriously, it will help me create my strategy for owner financing on these larger properties.Update... so the property manager never got back to me after several attempts on my part to follow up and get some of the operating costs.