Van Metre is sought by peers for advice and conducts webinars to educate other advisors on annuities and real-world expectations from them.

Not only is the new owner taking subject to local law, but taking subject to means current owners cannot conduct sham sales in order to evade tenant protections. 

Any other conditions you may have....this is good to talk to an experienced realtor about as well to make sure the PA protects your interests - If you are going to conduct or waive the lead paint testThe agent will ask you these questions (and more) and ask for the proof of funds or financing. 

When conducting business in a state, owning property, owned by an entity, that entity should be registered to do business in that state to be covered and protected under the corporate veil or limited liability of an LLC. 

Understanding your goals will help you make informed decisions.Professional Guidance: It might be beneficial to consult with a real estate attorney and a financial advisor to help structure the owner financing deal and ensure it aligns with your financial objectives.In summary, your deal has potential, but conducting thorough due diligence and seeking professional guidance are crucial steps before proceeding.

Conduct your own research of rent comparables to determine current market rate.

This is why its important to conduct your business correctly and make sure your insurance is in order (along with  any vendors who perform services for you) because a good operator does not do things where insurance coverage is denied. 

In part I am going to conduct some experimentation in whatever I buy - assuming I can find the right one -that will benefit me in other ways.Criteria:It must be within a 50 mile radius of Springfield, Illinois - but not in Decatur, Illinois so it will be easy driving for me to visit on a regular basis;I have to be able to buy it right - no inflated prices;All the due diligence must give good answersAll of the lots have to be large enough to accommodate a 16x80;It must be on municipal water and sanitary. 

The company would handle finances, conduct maintenance including purchasing materials or hiring outside contractors if needed, etc.

Sit up front so you can see any presentations conducted and participate fully.