Have you done any math to see how long of a payback period it would take for you to accrue enough cash to grow your portfolio, given the type of properties you're looking at buying (or any properties for that matter)?

My second question is how do you structure your hold and sell time period.

I would suggest putting him on ice for awhile and reach out to him periodically.

Is there a required "cool-off" period before the seller can get involved in the property again? 

The house was classified Insure-Escrow and had a 15 owner-occupant bid period with a 10 day bid collection period.

Also, during the redemption period, the money spent on repairs needs to be for items that are necessary and payable by the redeemer if redemption occurs.

This is largely based on the idea that any mice, insects or whatever are attracted to something the tenant is doing (leaving out food or crumbs) and therefor after an initial period it’s their problem.

Puts you in legal control of a property for a specified period of time without having to actually own the property.

.* I've heard there are other lenders who will provide short term loans that are amortized over 30yrs, but due in a shorter period of time with a big balloon payment.  

You get a nice initial pop higher, then some higher, and then you might get a "quiet" period (year or so) with small appreciation, and then it continues higher in fits and starts, but heading higher to 2022-2024.