We're in no rush but want to do proper preparation.  

Traditionally Condos react first to a bad market and last to a good market.

I dont have money to start a course but I've never been more passionate about a career path before and I want to make a deal, and use that first deal money to sign into a course to get a proper education on the whole subject. 

Flexibility: Land contracts can offer more flexibility in terms of payment schedules and interest rates.Risks for Buyers: Lack of Protection: Buyers may have fewer legal protections than with a traditional mortgage, especially if the contract is not properly drafted.

They don’t like paying for properly funded reserves.Finally, Chicago has  a $1 BILLION deficit this year.

What's the proper course of action?

Sometimes if you are renting the unit and it is not insulated properly, then you hear footsteps and conversations from next-door units, so tenants complain a lot, but there is not much you can do.Also, one time the unit above mine leaked water into my unit, and the HOA said I needed to talk to people living above mine to fix the issue and they didn't have the fund to fix the bathtub from leaking into mine, so I had to pay for the repairs.Sometimes working with HOA and is painful, but other times is easy if the unit does not have problems

Start by telling him he needs to leave or pay and post the proper paperwork. 

And you can actually use those funds to invest in properties or do lending, if done properly. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊