Deliver for Door Dash?

This is where a real estate agent can sometimes deliver an impartial reality check.

Based on everyone's feedback it looks like Texas would deliver a better cash on cash return.

When she told me she had this opportunity coming, I knew I had to pursue it because if I didn't, somebody else would snatch it up the second it hit the open market.The existing owner was dissolving his company so he fell into the bucket of "motivated" because he wanted out, and the building would be delivered vacant.I bought the place, my broker spent ~3 months looking for a tenant, and we received an offer to buy the space that I couldn't refuse.

At this point yes your client is contractually obligated to deliver the earnest money. 

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Treat those first few needed investors like gold and over deliver on those first few deals and your investor base will branch out naturally. 

Stabilize the property and fire him or take the heatIf I were the tenants at this point I would be paying rent into an escrow account until it stops leaking and delivering you notice of hearing if I knew he could repair it and was waiting.I’d start documentation your communication with the owner if you haven’t already.

One person's 15% can be less than another's 5% (and I've proved this many times).What I know, is whenever I use a property as an example, it's always a real one.As far as your market not delivering my numbers, what should that tell you?

One is in processing and the other is in underwriting, so I think I still have time to back out if necessary and all I've lost is the cost of the appraisals.I'll wait to ask about backing out until I receive copies of the appraisals, which the lender has not delivered to me yet despite my asking for them.