While there was a verbal understanding that I intended to proceed with the Lease Only Option, no formal agreement was in place.

However if are dead set on Owner Financing, you have to get get 20% plus down payment and if you are in Florida, you have to deal with a Judicial foreclosure process which is not nice to Lenders, I would highly recommend against it.

I would also send a formal USPS letter to the tenants alerting them of the change and how they will pay rent, report issues, etc., going forward.

To date Blake Capital investors have not been formally notified and despite repeated requests I’m not able to get anything of legal value to support the collapse and narrative around it.

I emphasize this is not an application as then I would have to formally reject people and give reasons why.

Can you send me a formal term sheet?

Similar to setting up a QI if tis 1031, is there any formalities that need to be performed prior to the sale for residence exemption?

I have contacted the clerks office in each of these respective locations and they only publish documentation when a formal foreclosure has been set and the auction date is posted.

This makes it easier to take the property back in the event that the buyer stops paying since you can now formally foreclose on him. 

I think many circuit court judges know that, and they are already tightening up on pleadings requirements, especially in judicial foreclosure lawsuits.