People dishing out crap advice or proposing ridiculous limitations are speaking from positions of fear.

I'm contacting the vibrant community here in Memphis with an exciting proposal.

The other option I proposed is $560k purchase price, $0 down, with 1% interest.

It should be noted that there is proposal to extend the full 100%.

@Nathan Gesner has a good process and it's similar to ours, but here's what I propose you do moving forward (you've already gotten some good advice on how to handle this specific situation). 

It offers one of the West Coast's deepest water ports and there has long been proposals to develop the facilities and capacity.

Can we talk about this lead you are proposing to me please?

I think your proposal is reasonable. 

We never like to deliver this sort of news, but it is an unfortunate necessity in this market.We include the cost for 12 months in our proposals because a lot of investors like to (or their lenders require them to) pay for a year of coverage upfront and it’s easier for them to compare rates.

@Patrick Forelli  Really it's a question for a good real estate attorney to address.The main issue I see with the proposal is that typically conventional lenders don't loan to LLC's.