Prairie dog. I agree with the above. renting is not something I personally would entertain again unless it was a 4-8 plex or higher. Supplying the down and then caring the rest of the note? no way to someone who has gone to foreclosure. How about being the bank? Buy the home. Take 15-20% down from the signer; carry the rest of the note for 5-7 % interest-only with pre-payment penalties so you are insured of getting your return. As long as the value of the house does not fall below the down payment, you should have a cushion against foreclosure. The people who sign the loan are responsible for all of the costs since it is their home. You are fairly worry free as long as they don’t destroy their own home. Your return is 5-6%,passive income, backed by the house. Not bad in this market.
