I've been researching options for sometime now, but felt compelled to start a new thread as this is a new RE transaction I have no experience with, and I'm really not certain I want to tie up a good portion of my capital in this deal.Here are the outlines of the deal:I buy property at $120K w/ 20% down; tenant escrows $10K upon my purchase and lease signing with them.Under the option, $200/month of rent will be credited to future tenant down payment.Tenant purchase price is set at $135K.

The remaining 70-90% becomes due upon completion of the project (balloon payment), which is typically 2 to 4 yrs in india.

I started investing in Memphis almost a year ago because I have family ties there. 

Take all of the assets and leave the liabilities behind (who knows what liabilities are tied to that llc, e.g., debts owed, lawsuits, etc.)

Even if you transfer title to the LLC it will not provide much asset protection because your name is still on the note and they can easily tie it back to you.  

So, being a newbie, it is my understanding that 50% rule simply states that 50% goes to costs of property and then 50% going to debt service (and the remaining from debt service is your cash flow).My questions is simple, does this apply to condominium units or just SFH?

Of course, there are strategies and games the pro HOA auction buyers play with the mortgage holders afterwards, as discussed with the attorney you referred me to, but the mortgage remains.

Another topic that ties in to owner financing(contract purchases) is Dodd-Frank.

Most of my suit and tie days and behind me:)thanks, Matt

I win a lot of multiple offer tie breakers that way.