If that doesn't work out, at least check  out driving for dollars:https://www.biggerpockets.com/renewsblog/2013/05/0...It works well with DM.

Text is not legal communication for proper notice regarding rentals.It's a good way to remind people. might work out for late rent reminders for you.. but if it get's beyond that.. paper trail.. and emails.. don't count either.. 

If the tenant doesn't work out, it's easier to terminate the rental agreement.

We hope to move back there in the next month or two if things work out.

I am a real estate agent and can buy properties at a 3% discount on top of anything I can work out in negotiations, but even still - I have seen nothing that hits above a 9% cash on cash return.  

If it doesn't work out, you can always sell - and after 2 years you don't have to worry as much about the taxes.

How does it work out?

I did not back out of the deal because I wasn't committed to it, the numbers just didn't work out for me.

@Dan Bryant ...you might want to join the Triangle REIA (TREIA), and attend our Triangle Deal Maker Sessions (not affiliated with TREIA) which meets once a month.

If things don't work out with the guy, my cousin and I are putting together some deals in Waco right now as well.