Funding the larger amounts with term and cover the periods of the unknown is the way to go.Kevin is right on with Whole Life being established at a level that can carry you through your older age, allowing the term to fade away as the financial risks deminish.But again, don't forget disability inusrance, you are more likely to become disabled over your working life than dying.

The owner is willing to carry the land contract interest free.

If you cannot afford to carry the mortgage on your rental for at least 6 months, then you could be undercapitalized and would then be in a very risky situation.

OTH, it would be cleaner, if she doesn't have a mortgage, to sell and carry back what is agreed and you getting financing sufficient to pay the taxes.

I think the minimum should be carried over to the Properties section as well...

You'll want to, in addition to determining repair costs, get an idea for what the real sales prices have been over the last 1-3 months, length of time on market, number of similar units for sale and actual comps to see what the place can appraise at.Also, please be sure to read in the forums here to make sure that you are accounting for all of the necessary carrying costs, etc.

I have seen some unique resources on BP and if you have one that fits I would like to tap into those channels - I would really appreciate any feedback in this and yes it is feasible deal that I will carry through on.

The tenant does carry renter's insurance.

I'm sure you simplified the example for discussion purposes, but be sure to include carry costs in your budget.

Most are run down and the sellers know they can't be bank financed and will carry the financing themselves.