An owner may already know that and begin looking at a gain over depreciated carrying value, need to recognize that as well.

True Rental Numbers:3884.50 - 2000.00 (Insurance) - 1000 (Extra Maintenance) = $884.50/yearThe numbers based not that do not make sense to hold it.

Hi Dustin, my friend has an extra room in Logan Square.

I have the knowledge not the extra time.

But the extra projects above added to our timeframe as well, and we are now hoping to have the house rental ready in 2-3 weeks.Tub/shower surrounds:Kitchen in progress:A little more landscaping work and the exterior will be complete:

he wants to sell one now and one in three to five years when he retires.He said he is open to owner financing but he doesn't want to carry a note into retirement.What are some ways I can structure a deal to make this work. 

Is there a type of insurance we can carry or advise him to purchase that would cover something like that?

Have carried dozens of notes, only a few now, prefer to rent while I have the temperament for it. 

I understand the steps and procedures to carry it out.

Yes, they still carry a higher interest rate (5 - 8% 1st position, 8 - 14% in 2nd), but the interest rate would be even higher if we were to lend unsecured (which we don't).We use our own lending documents and the borrower is responsible for all origin and administration fees.