They understand our industry very well.

How should the contract be handled moving forward?

If you wait for a storm , you will also be waiting for a roofer to do the work . 

We will be using Zelle from now on.

Mike licensed Mortgage lender who can do residential owner occ loans is what a RMLO is.they are tough to find because most work for a broker that will not allow one offs.. when I was current with my RMLO license I thought about setting up for this business but too much work for to little money.RMLO needs to be a state licensed mortgage lender and NMLS registered to do owner occ loans. 

The potential tenant says the rent will be paid directly from the program.

A friend of mine told me that "Bigger Pockets" was the place to be, so I'm reaching out here with my first post.

@Eric MarquezTop three things for any program that people should run far away from 1.

There are hardship withdrawal provisions and others that can be exercised if you meet the requirements. 3) If you have access to a workplace plan, like a 401k, with a Roth component, you can consider that as well. 4) If you setup your Roth with a Self-Directed IRA custodian, they can allow you to invest in assets like real estate, private lending, private equity and other alternative assets. 

Currently I am exploring investing in new construction rentals with the goal being to better calculate cash flow at the front end with maintenance/cap ex expenses being low for a prolonged period of time and predictable.