In this instance what I would do is get the deed in lieu from the borrower so you ahve the property again and get a note from them but have an attorney draft it to see if you can include a confession of judgment - meaning if they do not pay then you can get a quick judgment and possibly garnish wages.I would also have them put a small down payment as part of the note and only accept a check that way if you ever did garnish you have a copy of a check so you know where they bank.unfortunately you are right they can stop paying on the note and its unsecured so its a risk but out of all the options this is your best option.

We are looking for 3 year lease if that is acceptable with you.My initial reaction was to decline this offer.

Obviously social media is another outlet, but what posts have you seen gain traction?

If you don’t agree to that to kick you off the platform.Really not appreciating being forced to accept instant book

They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

One thing I will say there is a shortage of is properties that accept a pet (single pet, ie 1 dog)You will see a lot of manufactured housing on this corridor, but there are some older homes needing updates since the parent or grandparent had just passed (just toured a great one that sold for $219k in a week (cash) that was massive but my buyer was afraid of the work & it was easy fix and flip)As I mentioned below, I'm very curious to your style-what makes the right deal for you?

I would be very careful about accepting advice from anyone that could personally benefit.Listen to David Greene Podcast on YouTube, Spotify, etc.

In a great location with consistent historical appreciation, neutral or even negative cashflow is perfectly acceptable IMO.

Although those guys had brick and mortar and where very good at what they did ( screwing people)this new crop are just hiding behind social media and their key board. 

The only draw back I have is that AMEX isn't accepted everywhere but otherwise we like our AMEX Blue Business Card.