@John George you made some mistakes so the tenant has been "trained" to call you and whine.Do not respond to the tenant under any circumstances.

Most folks feel comfortable at a holding period of more than a year but there could always be unique circumstances that would change the appropriate holding period. 

What path you take depends on your personal circumstances, investment style and personality type. 

Reason I recommend this is Dodd frank and if there is ever an issue and your Not licensed to service loans in that state, not only are their fines to deal with but possibility of invalidating the note and having to return funds etc. don’t want to scare you but lending vs servicing are two distinct issues that people need to be aware of when owner financing

@Angela Meraklis-LyonsI'm so sorry to hear about your unfortunate circumstances.

But it is possible under the right circumstances.  

When you are analyzing a BRRRR deal there are 4 distinct cost areas you want to recoup when you do the Cash-out Refinance.1.  

This distinction is required because your " Investment expense" is subject to 2% of AGI, but rental expenses are not. 

Give them the requirements up front and let them know the fee will not be refunded, under any circumstances.

It also cover your estate, for example, if something horrible were to happen to you in the middle of the deal, and under which circumstances your "assigns" may not be able to act ('cause you're no longer around to assign it)... but your successors would be able to complete the assignment and/or transaction themselves had you not left direction.