It worked out perfectly when creating the amortization schedule, and banks wouldn't be able to come close to those terms.

You may have realized that it was commercial when I detailed the best bank financing I've found.Anyway, the seller came back with a counter, agreeing to all details except wanting $1,800/mo versus the $1,652 that you had graciously calculated for me (I created an amortization schedule with those two mortgages).

Long story short, there was a windstorm not long after I purchase the property and created damage to the roof so I filed an insurance claim when I saw the damage.

I have created a good Absentee with Equity and I get a steady stream of probate lists.

What I'd like to do is create Projects/Jobs for each project I am working on and track expenses under these projects.

(I am okay with that as well)Do I just create a 1099-R?

The area i'm talking about is very unique.

*This post does not create an attorney-client relationship or CPA-client relationship. 

My idea was to obtain a bank loan to cover the outstanding balance on their current loan and then create an owner financed note for the remainder of the purchase price. 

Mobile home parks are an unique beast in terms of real estate.