These proceeds are held in escrow and the title company will issue checks to the contractors to make repairs.

A bankruptcy filed 2+ years ago is no issue at all.

Some benefits I have noticed while househacking in my triplex:- I am at the property daily and can stay up on any maintenance and issues without having to remember to drive by or check in with a property manager- Rent collection is as simple as a door knock.- Tenants generally will be less inclined to try any funny business because they know you are right next door (or above/below them)- It's more conducive for learning as you go.- More favorable loan and insurance terms for an owner occupied property.There are also downsides such as:- Less privacy- Blurring of the landlord vs neighbor relationship- Can be harder to be the "bad guy" on things because you see your tenants often.

So far I have not had an issue and I take a photo to deposit the cheque right at the 1st of every month.

For the most part,  the intentions are noble,  and in some areas like seattle,  issues of affordability are increasing and very real,  even to people with good blue collar jobs.  

The CPA issue is really a non-issue.

Vacant land is a great place because no big issues and you can buy and sell all over the country fairly easily.And since no debt, it is okay if a property takes a few weeks to sell.

Hello BP,I have listened to many podcasts that tell me that if you have a deal, then raising the money shouldn't be an issue. 

@Tom Gimer Thanks Tom...in this case there are two many issues that me as the seller and my future buyer just don't understand....especially with owner financing and lead paint disclosures etc , etc.....but I will put as much in the offer as I can but it will still have wording in the offer that it is contingent on our lawyers  creating a formal sales contract in "x" amount of days....I know of no other way to do this since I lack the knowledge to cover all the bases.....but I will take your advice and get as much in there up front ...if there is a better way then please let me know

The other thing that is helpful is a list of cap ex improvements in the last 5 years, age of roof, Hvac, plumbing, electric, last interior updates, who's managing it, any city hazards/issues