BiggerPockets

With a land contract, you don't have the deed. So, that's going to limit how you can sell the property. You can't straight out sell it unless the buyer pays you enough for you to pay off the land contract. You could sell it where the buyer gets a new loan and pays you enough so you can pay off the land contract and (hopefully) take some profit. But you couldn't sell it with owner financing where you hold the note.

You could sell on a second land contract. When you eventually get paid off, you would need to pay off the first land contract.

You could sell with a lease option.

As far as what you can do with the property, that depends on the land contract. If you intention is to sell the property on or rent it, you would want to be sure your contract didn't exclude that.

For example, its very common to have a "no subleases" provision in a lease. But if you lease optioned a house with the intention of doing a sandwich lease option (i.e., lease optioning it to someone else), you would need to be sure your lease didn't have that provision. Same deal here.

That's doesn't really make sense. If the seller has financing on the property, and sells it to you with a land contract, that's the event that triggers the due on sale clause in the financing. There may be an exception if its a VA loan, but the land contract is a legal transfer of ownership, and so triggers the due on sale clause. You leasing it to someone else (its not a sublease, because you aren't leasing it) doesn't cause any additional problems.

Scott--thanks for your reply. That's basically what I was talking about and explains it for me. I am currently reading the laws in California regarding land contracts, and they are pretty clear (surprising!) so far. I was looking at both of those scenarios, having someone be a tenant and also having someone buy it from me but I know then I would have to have enough of a good deal to pay off the seller and obtain title. Thanks for your help!