However, do make sure you have some form of electronic confirmation that their payment was received.

I am always buying from wholesalers for me and for my clients. 

@Paul TimminsThank you so much for the advice.It's greatly appreciated and so far this website has been extremely helpful for me.

Oxford House was a reat resource for me if you are doing a sober living home. 

I, too, have worked with a very successful physician/investor, who formed an S-corp to hold all of his investments in the chance he was subject to a malpractice suit.  

I also don't want refinancing risk, so any deals with only 3 to 5 year debt are out for me.

http://mnsoberhomes.org/   This is an organization of over 20 sober houses in Minnesota run by private people. they formed a organization to help each other.this is a interesting part of a growing need for assisted type of housing.Just thought I'd pass the info along..your state might have a similar organization that could give assistance in figuring out how to start a similar type of housing situation.  

I am 59 years old and i am getting close to retiring, so i need some other forms income. 

Is it possible for me to refinance my half of the property so I can get my money back out to purchase another?

At least it has been for me...