Hi Paras --  I would suggest the five houses at $100k each. 

@Carmine CatalanoHola Carmine, te voy a enviar mensaje directo para hablarte por teléfono o video sobre casa de dos o 3 familia en NYC

Aviso de 60 días para desalojar

I haven’t had any W2 job since June, which wasn’t much in the first place as I was a para at a high school bringing home a whopping $1,000/ month for take home. 

His para-legal then releases the cash & she's 102 lbs wet but tough.We withhold about 10% depending on the scope of the project, on the last new build it got down to holding back $7k & actually got to keep it for $1800 in incomplete work that we finished ourselves.

AND, then your second para really tells the story, it is the stress that being over leveraged coupled with the Cornonavirus that makes this a bad investment.

He also has a tenacious little para-legal (who is also an REI property owner).Your local REI meetings should have some recommendations. 

If you were to hire a property management company to handle both the properties and turn the whole thing over to them, they would get the rents up to par as quickly as possible without you first having to sort through two states' worth of regulations and second having to convince mom and dad to take your sage advice.The issue with the Florida tenant's rent payments might be your angle in pushing property management.

A good option is the P/A without default provisions as the optionee can walk away, no harm no foul.I have used standard purchase agreements then with an addendum, delete para 12, 13, 18 qnd 21 for example, then state the buyer has the option to avoid the contract and address specifics of the option, date notice is required, closing after notice, option price, credit toward the purchase, no contingencies.Or, use an option agreement

It is likely a state by state thing, but in Texas earnest money is not required to have a legally binding contract, but there must be an "option fee" in order to have a termination option (under para. 23) when using the state promulgated (TREC) form.