. :) Bill Gulley miss spelled Dodd Frank but written extensively about seller financing.The ATR the ability to repay found on the CFPB s site and using ROMLs with tenant buyers will help your search for info you need.

Talk about a let down.We can always sell it and probably make a good profit doing that, but I would rather keep it because it's producing such good income right now compared to the estimated debt service that we would be repaying if we could get a loan.My question is does anybody else have any other ideas for pulling our cash out and getting as much as possible so that we can move on to other projects?

Seller Financing has more risk for the seller, so think:How can I show good character and the ability to repay?

However we are talking about CA, a very unique place in the REI world. :-) So get opinions from trusted local real estate professionals that you know or come highly recommended by someone you know well, about whether or not renting this property is a good idea.

What are your closing fees, how long will it take to repay those with the increased cashflow?

The single family homes attract a unique renter and also have the ability to be sold for a higher value if home buyers for primary residences return in force.

The prior owners we're definitely sloppy DIY'ers with many "unique" fixes to a slew of issues.

@Erik Dwyer,When you go to the bank make sure you take you last 2 years tax returns and have a exit plan how you will repay the loan and let the banker know you will give your investment property as collateral.Joe Gore

Or be held responsible for the statements the borrowers made about their ability to repay that turn out to be false.

You can determine expected performance based on past performance and make adjustments for expected economic conditions.None of this can accurately be done to a property.The first issue many small investors have comes from the very basic understanding that real estate is unique, there are no two identical properties on the face of the earth.