Hi @Kimberly MarieWithout making any assumptions as to the sellers intentions, the situation as I see it is she wants to sell the house for 50K cash just before leaving the country and she doesn't want the transaction to be handled by a third impartial party (the title company).Being new myself, if I were in your shoes, I wouldn't do anything without escrow just for the reason that a title company will alert you to any pitfalls.

I require buyers to put up a sizable earnest money deposit on my listings.Even though you do not have to have it for a contract the buyer has to have something to lose to keep them honest and moving forward in the contract.It has to be painful for them to walk away.Otherwise your sellers property is tied up for nothing to show for it but wasted time.A buyer will have to feel real confident about what they are doing to put up sizable earnest money.Usually having them put up bu earnest money weeds out the infomercial clowns trying to be something they are not.

He arrives on time, takes off his shoes (new carpeting), strolls around and tells me he really likes it.

I have a blog somewhere on BP, but don't know how to tie it in here.

Yes, Matt I had a shirt and tie on :-) But thanks for noticing, wink wink ;-)Joe, I had no other viable options.

Well it's about 94 degrees that day and I'm dressed in a suit and not exactly wearing the shoes to be taking the two mile walk we're about to go on, but how am I saying no at this point? 

It's great that the sales prices are higher and it's awesome that the economic growth can support it, but sometimes it's fit-and-finish as much as it's "dirt" appreciating.So what would I do in your shoes? 

If I were in your shoes,  I'd give your money partner 51% of the profits while you retain 51% of the decision making. 

Your cash-on-cash returns will remain high- remember if you pay them off you will have a large amount of equity tied up making a lower return.

@Allan Smith with one note from one investor tied to one property is pretty straight forward.