Oddly enough, my financials are nearly identical to you.

He provides the following:4 studio apartments @ $1,000 per month4 one-bedroom apartments @ $1,250 per month4 two-bedroom apartments @ $1,500 per month4 two-bedroom apartments @ $1,800 per monthProperty taxes, $40,000 per yearInsurance, $15,000 per yearWater and sewer, $12,500 per yearElectricity for common area lighting, $2,800 per year"You confirm the rents by examining the leases and you verify independently that the expenses are accurate as quoted."

Fortunately, the real title guy called me go over final CD and wiring instruction 24 hours before closing.Lesson learned, Always call to verify wire instruction with title company.

But you are correct, he needs a way to verify work/milestones have been met.

Submit on my website and we ACH deposit into your account Inspection required to verify work completed Day 1: request Day 2: inspect Day 3: wire funds to investor (business days) DP Or Reserves required Minimum of 6 months liquid reserves - Checking/Savings-MMA/CD/etc.

As a listing agent, I would rather see contingencies removed than an escalation clause if both offers were otherwise identical.

As for the $50k that was an estimate, but will have that verified by a few contractors.

I believe the seller can pay back the owed amount for a period of up to ( now here is where I have mixed information and I have not taken the time to verify) 1 or 2 years.

Out of curiosity, how are they going to verify that, do I need to prepare some sort of proof I have actually lived there for the 2 years?

Make sure you verify the labor and material costs you are paying, I mean absolutely sure because you really do want to understand his skin in the game.