Even with otherwise good searchers, they often failed to provide the complete documentation.

Rachel Imhof Wow, so thorough and so great post, I could not agree more with #4, we have government contracts and when you say “we remodel government buildings” the usual reaction will say “oh that’s good money right there”, it is not, we spend efforts and spending a ton of time and money before and after a contract, chasing them and failed bids, then government tells you how much to pay workers, then there’s always that oops factor.

But can you handle losing 50% of your income when a tenant fails to pay for two months?

Failed to collect Property Insurance and Property Tax on my promissory Note now buyer refusing to pay $15,000 delinquency on mortgage that is $709 per month @ 4% with $93,000 balance now pending foreclosure. 

My inspector failed to properly inspect my roof and consequently leaked 2 weeks after I closed.

- biggest difference between those who give up fail, or never get started? 

If all fails and collapses, you want to have a place to live that you feel secure in.

I've kept above water for 15 years so I'm not failing. 

Most startups fail and don't generate any return for investors.

What if I write him a check to cover legal fees, call it EMD, get a copy of check to title company, and file an affidavit of equitable interest and require the EMD back if he fails to go through with the sale after probate?