The contract didnt state anything about being paid back by a certain date, which is where I am concerned.

I was thinking of quit claim deed but am concerned about the due on sale clause.

My BIGGEST concern is that your here asking this question, that indicates to me that your NOT experienced in this segment and that's a dangerous thing.

I'm also a licensed agent in Colorado and that money goes to my "wants" like special trips, gifts, and money for my future rental properties.If I wanted to 100% live off my rentals and have no issues or concerns with money (reasonable quality of life), I'd want to be closer to 25-30 rental units.

Address their concerns promptly to foster a positive landlord-tenant relationship.Being nervous and excited is perfectly normal for your first venture into real estate investing. 

@Stephen Heebner I think the largest concern with investing in funds is the trustworthiness of the promoter.

-- I've been wanting to try Facebook, however, I'm concerned that my ads are going to go all over the country rather than in the Chicago area where I am located..  

The seller's responses were suspicious, and we became concerned.

While this is limited to non judicial foreclosures, its still a concern.

Tenant law and the direction it is heading is very concerning.