Most importantly, have a flexible late policy that punishes failure to communicate and rewards tenants that are trying to pay even if they are late.

Then, being the glutton for punishment I am, I continued on to law school.

However, in most cases collecting on the personal guarantee is difficult if not impossible.Since Dodd Frank and the CFPB, judges have punished holders of paper where the note was originated in some way that violated this act and the agency regulation by allowing the note to remain in force but severing the security interest from the note.

But if anyone reads this and assumes they can just not live at their new VA purchased home just cause, that’s loan fraud and certainly punishable.

His punishment for misbehaving is to have to drive the Prius. 

Anyone expecting to negotiate a purchase contract with a seller with an assignment clause, then marketing that property and/or contract for sale to other potential buyers and receiving an assignment fee fully violates CA DRE regulations and is a misdemeanor punishable by fines, jail, and/or restitution.

It will serve you going forward almost daily in this industry because so few are willing to take the punishment that comes with the phones. 

If you violate it and get caught, you can get prosecuted for mortgage fraud, which can mean that you would be at least made to refi your property as an investor, which is least severe of the punishments. https://www.fhaloans.com/artic...Based on purchase date of October 2019, you should move in somewhere around Jan 2020.

@John ThedfordNow, on to the legalities that John eluded to: In most states, assigning a contract and marketing that deal and or contract to others without holding a real estate license is brokering without a license and in many states, is a misdemeanor punishable by jail, fines, restitution, or all of the above.

Because I'm a glutton for punishment.