First off I am thinking this is a bad deal for you.If he is being foreclosed on, on another home then why would you want him to essentially assume your mortgage, apparently he has a hard time making payments.And the whole bit about him making the repairs sounds good but it is only as good as his word.

A good CPA is pretty essential game.

In the rental property business, we typically make money through positive cash flow.

Hey Ryan,It's been a little slow during Jan, Feb, Mar, but that's kind of typical anyway.

Yet these same banks will sell their mortgage notes and/or assign mortgage notes to third parties which is essentially the same thing.I understand both sides of the equation nevertheless.

Most of these investors typically don't go over 75% LTV, and their rates are going to be higher than you would see from a bank.

Offhand, I'm not aware of any "hazardous" waste issues from typical trailer construction.

If I feel that it is too excessive such as working with new people, open houses, I typically have a double blade push knife on me.

Typical closing costs are about 8%.

Your end buyer should be sure their lender is aware of what's going on in order to avoid a last minute roadblock.Double closings typically require hard money, cash, or some other sort of investor loan.