Putting five unrelated occupants in one home means five cars parked outside, five different group friends visiting the home, increased likelihood of noise or parties, and other problems.Personally, I have pretty strict requirements when three or more unrelated people are renting together because of the potential problems.

I would either setup your own third party 401k if you’re in a situation where you need one.

Selling it to a 3rd party and then to the IRA is still prohibited. 

You agreed to change the move-in date to mid-October, so until they fail to meet that date your "feelings" about them don't give you the right to take any action.It isn't reasonable in any way to break an agreement because of how the other party communicates.

While I have done a decent job in my spare time building a mailing list of interested parties (including a great survey that has taught me a lot about what buyers want there), I fear that not being on the ground there would hold me back.

Be also mentally and emotionally prepared for the folks that think just because this is not your primary home, it's somehow less of a catastrophic event for you because others did lose their primary homes.That's why it's vital for you to form support networks with people who are in your same boat - ideally in the same community.This truly pains me to share - but most of the disasters I'm seeing across Western NC are going to be considered flood events and if you do not have a separate flood policy you will likely get no coverage.

Also, the off-market listing process ensures sellers can reach the right buyer or buyer’s agents and only get interested, motivated parties.

With Electric Boat being a main employer in the area, along with the Coast Guard and Navy Base, it makes it a great place to invest!

Is the written agreement something that has to be signed by both parties then turned over to attorney to then draft up a contract?

If you play this right you will be set up for life and you don't want to look back and regret the nickel and dime negotiating that cost you a huge upside.Use the extra space for RV/Boat and Camper parking for your tenants.