Believe it or not, I'm actually considering this.My father-in-law owns a house he is interested in selling that I think would make an excellent rental property.He's owned the property for 10 years.According to county records, this piece of property has had only 2 prior owners: my father-in-law's father, and HIS father.It's hard to imagine a more risk-free property to buy w/o title insurance.

Some buyers may even just get cold feet before close, at that time play it by ear.

@Blanca Munoz  A very important piece of info for relevant feedback is how much do you owe, if anything, on the property?

You can find out pieces of the puzzle that make it easier to locate the person.Ex: if they are a professional of some sort, i.e.

(Buy a piece of furniture on store credit and make steady payments for 4 or 5 months and then pay it all off, get a credit-building loan, get a secured credit card or a Chase freedom card [you build points every time you use it, I have a whole plan devised on that], etc.)SAVE, SAVE, SAVE Put in hours of diligent research.

Make sure you give enough closet space, that is the most important piece in any bedroom. 

If you put a debt instrument on a piece of real property you need to be licensed.. unless you are doing it as a retirement hobby there is usually some exclusion for a few a year.If this person wants to go into the business of doing financing then that requires licensure.although most transactional that happen same day not sure those need licensing since your not loaning money just moving money into an escrow and out. .but it oculd be in Ca.

Hi,Is anyone here doing the land improvement business where they buy piece of land and spend money on land clearing, fixing slope, bring utilities etc and sell it to builders.

At least around here (Missouri, Kansas, Oklahoma), the schools usually sit on relatively large pieces of land, so there is enough room for several expansions without the school district having to buy any more property. 

Document prep fee is to pay for creating those pieces of paper (AKA mortgage) that get recorded.