Is there any surrounding area specifically that you think could be the best option ?

But experiment and see what happens in your market with your specific property.

I'm happy to discuss more details directly if you have more specific questions.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

If you have a handshake/wink-wink kind of deal then you should get a Promissory note at least that outlines the terms of the loan and what happens if it default, who the loan is between, and usually in agreements like this the language is broad. 

@Heidi FischerGreat questions for a CPA that knows more details of your specific situation. 

I joined BiggerPockets specifically to address this and to build relationships with people from diverse backgrounds and locations.

To clarify, I had initially put the property under contract but had to back out of the deal due to negative inspection results, specifically related to foundation issues.

I recommend checking with your lender about their specific requirements.

Another investor told me about assignments, specifically cooperative assignments.