For the incoming tenant, the holding agreement covers that there is no guarantee the unit will be ready by the agreed upon date but that we will make a good faith effort to have it ready.

I'm still a ways away from making the leap of faith and quitting my job.

If there is little to no equity it may not sell.In that case, the property reverts to the lender, however the borrower's interests through laws of equity are not extinguished, the lender must sell the property and make a good faith effort to be indemnified for the financial interests held, any excess from that sale is still a claim that may be held by the borrower.

I'd put a LOT more faith in what you read here than in what the TV shows tell you , lol.

I mean, granted, he's giving me a little bit of faith here but his limits are pretty low.I'm also informed that most Hard Money Lenders in the area want 35% down.

If you list the property, the tenant can still buy it, but you can treat them just like any other buyer - i.e. write me a contract and provide pre-approval letter and good faith deposit etc.

Most likely if you put a good faith payment (mine are usually $50 to $100) then your interest is secured.

Investors are taking a leap of faith investing with you.

Because investors were not acting in good faith and in the public good, that's why. :)

Somehow personally I have more faith in BV's future.