Thanks for sharing your story—what strategies are you using now to prepare for calls like that?

The provisions in the second contract govern the final close so you have to check for discrepancies that would invalidate your contract's provisions with the seller.

@Benjamin Ying I recommend you take time to read through some of the horror stories that have happened to some who’ve tried OOS long distance investing that are in these forums.

If it were to read LP member owns XYZ% and will receive a certain percentage of proceeds based on property performance, that's a different story.

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.

Let me tell you a little story, I bought a property about 40k-60k under what it would go for if listed on market. 

Period.I love my family, BUT the stories of issue with family doing business with family are ubiquitous.I hope all goes smooth for you and everyone is happy, BUT......My 2 cents,Mike

My belief is that arcade, pool tables, etc. would provide a different experience and might be more likely to rope in the whole family.I initially wanted to bring over my modded PS2 with a bunch of games, but I've heard horror stories about doing that. 

I will happily foot the bill for supplies so they aren't out any money out of pocket, but with the prevalence of contractor-stole-my-money stories, it makes it hard to fork over an upfront fee.

True story, I know an investor that bought a condo without reading the docs that he had intended to use as a rental and had to hold it for a year before he could do so.I've novated two condos and both times it worked out really well.