in NYC some owners are known to rent out their semi basement which is on a grey side. so during inspection would that cause any issue?

Thanks for sharing, saw some of the webinar from the wallstreetoasis link.Curious how they communciated this to the original investors, cause them seemed to infur on the webinar that the 18% is such a great deal and better then what we would have offered the original investors.

It is not seller financing by definition because the seller is not financing anything, their lender stays in place while the deed transfers to the buyer, possibly violating the terms of the loan and potentially triggering the due on sale clause, or causing insurance issues, potential problems with heirs, etc. 

Has the owner done something that causes you to take this action, beyond being late? 

It’s likely something changed on their end—either an insurance issue or a prior liability situation—that’s causing them to tighten standards to mitigate future risk.

This is a bit riskier and causes you to sacrifice some lifestyle decisions while having strangers stay in your home, but there are solutions to make it work. 

Over time, that house has filled up with five working adults, which caused the rent to increase quite a bit.

I'd be curious what you are paying for over the next 8 years that caused the Assessment? 

Cause what we're looking for as investors in this scenario is really a line of credit. 

That step is first because it is the most likely to cause an issue and cause the deal to go south.