Obviously the deal is not just a hand shake, so is there a place to draw up an agreement/terms regarding the length of the loan and when title is released?

I'll revisit this when I take action and let you know how it all shakes out. 

We have money to invest when the next opportunity comes along, we are trying to let some of the industry shake out happen first.Learnings:1) Finding a place with level seasonality (Southern Appalachians) was a good play for us.  

To say they are completely incompetent would be giving them the benefit of the doubt.More likely, at this point Jeremy and his wife understand themselves to be rogue predators, trying to hang on for a while shaking a little more money loose from suckers like me until the law and their creditors finally catch up with them.

Did they look you in the eye and shake your hand?

Just a reminder shake down.

Someday....Having said all that, I personally would wait at least a year to see how this shakes out.

While others were working, I was shaking bushes in my target neighborhoods to acquire and expand. 

Investors run into their own life issues and will be negatively influenced by greedy ambulance chasing lawyers, trying to shake down those with assets. 

We are considering arbitration, and the local real estate board offers that for a small set fee, but are we going to get a fair shake there because these guys might be friends with the broker?