So regardless of "sentiment" towards out-of-state investors you may have received from your work colleague its incorrect. 

Soon I will receive some capital (as the outcome of my divorce).

If you want to look at total expenses over the years, you need to look at total income received as well with your potential sale price. 

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

I plan to pull a standard lease agreement from the Florida Supreme Court website and review it with her next week.I have received a new job opportunity where I will be making an extra 40k annually and must move out of my home quicker than I initially expected.

The borrower MUST receive something of value for the deed in lieu, agreeing not to foreclose immediately and giving the borrower time to reinstate, or providing a modification, is that something of value.I need to clarify that these notes are commercial and investment property, so do not have to comply with residential lending requirements.With a deed in lieu there is no foreclosure, judicial or non judicial.  

Cash on cash is only what you are receiving divided by your expenses.

However, I kept receiving errors so am trying to post this now without the link to the article and hopefully, that works.

I have received quotes/feedback from three contractors here I can share some information with you. 

How can I strike a deal where they can still receive some income from the property, but I can purchase the home and make my share and eventually (1-2 years away) own the home and eventually get full profit from this 8-unit property.