Even though it does take a few days longer the gamble of the downside was not worth it in our view to risk the legal chance.If it were me I would play it safe, you already filed everything.

He was willing to owner finance for one year but it turned out that he owed $180k and he decided that he didn't want to gamble on the fact that I could get financed for that much next year. 

Yeah, I am keeping an eye on this gambling site - http://www.paddypower.com/bet?

Every time I hear "out of state investor", I just assume they're from Cali - the market here seems to make no sense anymore (and yes, I'm a Ca based OOSI too)In general, ALL the major west coast cities are very overvalued right now - generally, purchases there would be speculation of future appreciate, rather than good reliable cash flow - that's gambling, not investing.

If you are playing the appreciation game, you are gambling.

@Christian Wathne When reading your idea...I see it like a gamble at that point, not having control?

It seems pretty stable right now, but I don't want to gamble with it.

Allow 10-12yrs for new tax policy to take effect and Corp greed to spread (this is natural not a bad thing unless uncontrolled).

It's all a gamble on appreciation.

Our tenants' covered 60% PITI, meaning we paid 40% out of pocket but got to live in a great area.Our gamble paid off and sold for 20% more than we bought 2 years prior.