I'm considering giving a tenet the opportunity to buy one of my older cheeper houses on land contract. Looking for your thoughts on the pros and cons of doing this. They have been good tenets and i would like to give them the opportunity to become homeowners. Sample numbers would be $50,000 price with 10% down at 7% interest over 15 years. I would get a few hundred cash flow for the next 15 years with no property management payment, property tax payment, property insurance, maintenance or capital expense. It seems like a good exit strategy on some of my older cheaper properties.
Looks for thoughts and concerns on this sort of exit strategy.