Hope it doesn’t sour everyone from chasing their vision.

don is just making excuses ...hes never done it and cant even speak of it -- a birds eye viewput simply - you have to do it -- all the other jibber-jabber on here just reads as complaining and excuses -  it is real estate to a degree.  

However, I called Chase bank and asked about opening an escrow account and they said I would have to have some kind of agreement.  

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

Unfortunately cash flow and unit count are the two metrics most are taught to chase which leads to buying in the lowest barrier markets lacking any fundamentals that are indicative of creating any true net worth or gains (with limited exceptions). 

So those are great points when out there chasing NPN or super high discount yield notes.. they are not just that easy to get takes a lot of money to even find them in direct marketing etc.. wereas when the investor hooks up with the right company that's all done for them and 100% the return goes to them minus a tiny amount for servicing but they spend Zero money on finding the dog gone things .. which as you state is a real challenge in todays highly competitive world of trying to find discounted owner carry back owner occ notes..

If their lease runs for another 6-12 months though, then you have to decide if you're willing to take on the hassle of 6-12 months of chasing down rent payments, delivering late notices, threatening eviction actions, and potentially going through the eviction process itself.  

There are plenty of free services like Credit Karma or Chase Credit Journey to notify you of a change or inquiry on your credit. 

Chase Story is no cost to tenants https://www.jpmorgan.com/commercial-real-estate/rent-payment...

I make about 60k yearly and I’ve spoken with chase and they told me I could get a 250k loan with 5% down at 7% interest.