For me rent is due on the 1st with a 5 day grace period.

Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

Hold your nerve and don't slash prices unless you're seeing some extended time without bookings.

@Chris SeveneyI think those that took short term debt, trying to extend their terms, and now that the 10 yr has shot up, it's gonna be very interesting.

That could involve mediation or court, OR possibly if nobody takes an action you may simply be awarded the EMD back after a certain time period.

Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.

Your policy should be that the applicants have an SSN or ITIN, period.

Period!

If you're tax bill is $6-8k (minus the 1031 fees), surely you can make that up by taking multiple swings over a longer period of time.OR pursue some sort of owner occupied strategy with that cash if you can swing a live in flip or house hack.

Barron first if you are within your inspection period, you may be able to terminate the contract without any reason.