They've made Detroit real estate investing a viable option for someone like me who values a hands-off approach.

The better option is for the Seller to pay your closing costs.

I would change my tone with the old contractor and notice him in writing he's not welcome back to the property and you are looking into option to hold him accountable.

That seems to really restrict the buyer's options and avenues for closing.

I'm in Atlanta, GA which gives me fewer options with that budget unless I go with condos with HOA's that allow rentals, or venture out to towns outside of Atlanta like Macon, GA, Athens, Lagrange etc...

I would recommend reaching out to a few to get a better handle of your options.

@Juan Lizarazo plenty of options around.

Is sending out some goombas to break knee caps an option? 

These were the options that were presented in the signing documents as well as the option for the amount I'd like to initially draw.

This gives them the option to keep it at a low rate, but also compensates us if they don't get rent on time.