@Luke H.Hi Luke,  As a private money lender myself I will focus on one element of your deal---5 years is a long time to be finally paid. 

Yes, the wholesaler bought it from me for 107K and sold it to the end buyers for 117K, so the end buyers paid 117K + 3K in closing costs.

Bigger Pockets has a directory of tax professionals.Here it is: https://www.biggerpockets.com/business/finder/tax-and-financ...Just keep one thing in mind: any directory, this one no exception, is paid advertising.

I'd personally never take capital that I am paid to manage without committing my full-time effort to the situation and putting a majority (I reserve the right in the future to make this 1/3rd of my position) of my wealth into the situation. 

We have several 8 year properties that the tenants have paid 100% of the initial purchase price of the property.

Rent collection update - paid in full by his mother yesterday. 

Plus, having a fully paid-off property could be a nice safety net if the STR market takes a hit or occupancy slows down.On the flip side, if you’re eager to grow, saving for another property could be the better play.

A little update with the bank, they are now telling me that they aren't even going to consider a settlement or a short sale unless the past due 14 contractual payments (around 8-10k) are paid.

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

I paid a flat fee of $400 to get a sales contract drawn up.