I can share with you 50 years of data including FHA data that shows the less money you have the more likely you will default....

The assumption here is that the US government will continue to be a government and will not default on its loans.

Down payment would still be $60,000.Of course if buyer defaults on the loan I would still foreclose, and I would require home insurance/property tax in escrow like the banks do.Do you think this would work?

I have a person right now needing 10K and well I don't want to use my money and I would need to know how to ensure it's handled correctly with in the even of default.

If they default then you'd evict.

When the borrower defaulted we started foreclosure and got paid off of the loan, the borrower thought they were done but we were like um no, we have a JV where we also get profits as well.

DEFAULT: This is a legally binding contract for the Purchase of the Real Estate described above.

One, was adamant that it was a bad idea because it would create an equitable interest for the tenant and if they defaulted, we would have to go through a judicial foreclosure, and then evict which could take 12+ monthsThe other lawyer, said it was no big deal and the amount we received was not enough money to establish interest in the property.

If they default wouldn't we get the land back?

This move had many anticipating a crash in the CRE market, with dire predictions of banks collapsing under the weight of defaulted loans.