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Posted: 10/1/2011 2:55:12 PM EDT
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?

Thanks
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