Escrow for loan payments should be set up with a third party servicer.  

What makes this work most efficiently is if the two parties mutually respect each other and are on the same page.

The owner is out of town and he got burned by the third party (they took off with rent, records, etc.) he tried using as management.

When I told him that would be fraud on my part and I would not be a party to that he stated he would have to find another place. 

We were pretty good kids in college, but of course we had parties and made our share of messes.

Most people focus on Space X when they talk about Brownsville, but I think LPG will have a larger effect.The bad part is that Brownsville itself isn't great.

From my understanding, a wholesale contract usually includes that the contract is "assignable" to another party. 

Unless these folks are the money managers for a money laundering scheme designed to clean blocks of cash with large denominations and private party placement and don't care about 5% US Bond scrutiny (sovereign wealth comes to mind), my first thought when I saw the 3% interest rate was skepticism.  

Apparently, the two parties had a conversation before work even started after concern was expressed by the tenant.

I negotiated terms that were a win/win for both parties.