Sounds like this guy might be looking for cashflow in retirement so a 30 year note with regular payments might work for him.  

Thanks @Bob Collett Thanks @Hattie DizmondI chose to go down the solo route a long time ago because of some pretty bad experiences that ended up with friendships going very sour.

The downside of this second option is it might be hard to finance discounted properties with a regular mortgage.

However, you'll still need 1 to 2 weeks to clean and make any necessary repairs, assuming you've been diligent about regularly inspecting the place, you will know if there is anything major.  

If the seller wants $25k in NROC, and the sale price is $200k you could get a regular FHA loan and buy a place, and have money left in your pocket.Just some thoughts.

Elena T. eI know everyone is talking about using the official time consuming eviction route.

I think the mulit-family secrets kit is seperate from regular memberships.

@Clay ManshipI've thought about that route with the multi-family.

-They have backwards priorities -They are professionals and know they will get several more months out of the home even after you file for evection-They are simply bad with managing their money-Something changed in their lives and they can no longer afford to live there/ need to save money to get into the next place-They bit off more than they could chew initially (similar to being bad at managing money but more future budget related)The people that do pay are regular people who want a decent place to live and respect how the system works. 

They are like costco, no price adjustments, regular joe and contractor price is the same (most place vary discount by volume).