How Would I Get Em Out ?
It's my understanding that with a CFD the buyer has an "equitable interest" in the property(considered owner),so if they were to default on monthly payments would I have to foreclose(which I wouln't want to do if I bought it subject to right?)to get them out or treat them like a T/B and goe through the eviction process like a L/O?
Yes you're correct. Generally speaking you do have to foreclose on them however i'm pretty sure it varies from state to state. If they've been in the prop. less than a certain amount of time or have a certain amount of equity i'm pretty sure you can proceed as if it were an eviction......
This question is very state specific. You should ask an attorney.
For example, in Iowa, all I have to do to kick out a contract buyer is give them a 30 day notice to cure. After 30 days, I file a forfieture of CFD and have the sheriff kick them out--no court hearing or anything.
I've heard that in Texas that CFD does create equitable title which would require you to foreclose (several months).
I'm not sure what Florida is like but I wouldn't decide one way or another without first asking an attorney.
You should also learn your market to know what terms are most peopular. In Iowa certain newspapers I have better luck saying "rent to own" and others "for sale on contract" and still others something as simple as "$5000 down--no qualifying".
Unfortunatly marketing is very expensive and about the only way you can do it is trial and error.