However, these often cash flow the best and payments are guaranteed.

I usually hear of a 5-10 year balloon payment.

We don't mind whether the ballon payment comes from the sale of one or both of these properties or from one of our active flips we currently have going on.My questions are:How does the contract, or contracts, need to be written to give us the ability to list/sell these houses after we fix them up within the 4 month time frame.

We have not received any payments in years.  

I know that it could end up be a nightmare living above a bad tenant, but it seems that in my area I can get much more for rent with section 8.Market rents are around 1500 - 1700 and the section 8 payment standard is 2100.

He will also net close to what he did before with your mortgage payments, BUT he will not have any maintenance or management headaches.

Review and clean up your credit score and If you haven't already, start putting money away for a down payment and 6 months reserves.

To those who are pros in creative financing...When it comes to subject-to financing...Am I assuming the loan in place or just paying the payments to the seller?

@Tony ScalDoubtful unless you have a very methodical plan on how to get back above 1.For these lenders many don’t mess around and will take it back and then go after the personal guaranty if there is one

Organize all Invoices and documents - Making payments to contractors, Being notified when the next payment is due, etc.I find it overwhelming to do so sometimes.