I own a 2 acre property with a building. The nephew wants to rent to own it.
$100,000 value at 3.5% at 30 years is $450 per month. Taxes add $100 a month.
He pays renter's insurance and I continue with building/property insurance.
So basically he rent's the place for 30 years.
His main issue is if he defaults on the loan/rent the bank won't own it.
So how do I report the income?