Quote from @Ben Whittington: Title says it all - how much do you, private lender, pay for attorney's to prepare your loan documents (contracts, promissory notes, deed of interest, etc.) and where are you located?  

@Jaycee Greene I am located in Peoria but really like to look at real estate anywhere with a 100 mile radius

Quote from @Bhushan Shinkre: Few corrections, tenant simply decided not to pay rent and took further action of asking for refund of all prior payments (legally made via Baselane), which Baselane paid out no questions asked.

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

But based on the location and the market I am thinking that is probably still too high.

@Paul CijunelisYes, this property is located in indy.

And you are picking a location that totally disables the #1 reason why you should buy real estate.If your first deal goes bad, there will never be a second one.

I won't veer from my qualifications-- quality location, value add opportunity from the get, proper price entry point.

A roof, HVAC, and foundation on a $80k house cost the same as a roof on a 250k house (assuming a similar size but better location) with a similar PITI to rent spread.

These hotels are almost all ideally located right on the strip, and loaded with amenities like room service, restaurants, bars, and casinos.