If you have a CRM system or even just excel, plug this owner, contact info and all of your interactions with this person in there.

Hello all, As you know every investor and developer is looking for the same answer and to solve all these you need to interact with the same business owners and workers, who are into the same business.

@David FriedmanYes you are correct, it is almost like a reverse mortgage and yes there is a huge element of speculation to assuming a 2% increase in property value for the next 30 years (although it is in Irvine near the University!).

I'm sure the difference is the liability element. 

Looking forward to interacting with you all and see you on the forums!

Those that can do....... those that can't should hire a PM.If one does not have the fortitude to be honest with their tenants and present themselves as the owner they should not be interacting with tenants. 

Always act very professional in interactions with others

"Consideration" (a thing of value) is one of the three key elements to forming a contract. 

@Kevin Sobilo AirBnB invloves too much time and interaction for me and living in a multifamily unit is out of the question as I don't think the wife and kids would like that too much. 

People won't steal your deal.  95% of the people you interact with during an RE transaction could't steal it even if they wanted to.