My wife is considering a job move to Dallas and we are looking at houses in the area ahead Welcome to Texas. 

In the future, a) get a super detailed Scope Of Work and ironclad Contract. b) Do not pay more money as a progress payment than the amount of work that has been performed, that way you are never ahead of the Contr or vice versa.Your options (depending on how much he owes you) are Small Claims Court, the State Registrar of Contrs, and possibly the local DAs office or State AG if the amount is higher ($50k ish)Good luck, let us know what happens.

Thanks ahead of time and feel free to post any questions and I'll do my best to answer them.   

Not much new to add, other than this short-term niche seems to move quickly, so getting ahead of the trends is key. 

At this point, I see only 3 options1) assign the contract to someone else, meaning sell the apartment (but I will need approval from the developer)2) talk to the developer and ask for a minimum one-week rental (Min City Regulation) at least for the 1st year to get over the bad time.3) to just go ahead and purchase the apartment and suck up any loss I might make and try to get in refinanced as soon as possible with a lower interest rate.What are your thoughts?

Selling and buying another property may work, but the cost of doing that may or may not put you further ahead. 

Hey Leo,Great question and it's smart you're thinking ahead on this.

First off, I apologize for the long ramble ahead, but I want to give you all a clear picture of where I'm at.

Indiana is a bit cheaper, so let's say $8M25% downpayment on $8M of real estate is $2M of equity needed to make this happen.All of this to say: real estate is a fantastic vehicle to provide cashflow, but it takes:-a significant amount of properties -a significant amount of equity Both of those also take a significant amount of timeHang in there, you can do this, and wishing you all the best!

I wouldn't let them stop me from moving ahead at all.....Maybe ask for $2000 cash (to close the deal) back  just for fun.