As such, with the intent of selling lots/land, etc for small increments of money you will still want to use a Mortgage securing the Promissory Note.  

Notwithstanding the type of investor who is looking to rip you off (which it sounds like you're not concerned about), even the best intentioned new investor can over-estimate his abilities and the completeness of a job.  

Try a letter of intent that outlines 3 ways you would be willing to buy, maybe.  

My intent is that the tenant maintain the system as installed.  

Although I know you're not a slumlord of some kind who has any bad intentions, this is exactly the kind of thing that can be used against you in court.

We have our rental criteria as the first page of the applications, so that people who don't qualify often screen themselves out.You can't look at what type of family structure they have, but you can look at occupancy standards (total people), how long they have lived at addresses, how long they have lived in your community, intention to stay can probably be a question on the application, rental history, indications of fussiness or drama from interactions and social media, and of course the other things you would normally verify and screen for - income, criminal, credit, rental history.Decide what you want, write it down, and keep it consistent for each round of vacancies, adjusting it for the next round if needed.Good luck!

He knew about business, legal issues, tax issues, marketing, sales, promotion, networking, and most importantly he knew about people (psychology).The first thing he did was tell me that I have two ears and one mouth, and I should listen more than I talk.Second thing he did was have me read "How to Win Friends and Influence People" by Dale Carnegie.Then he taught me how to set appointments with home sellers, go out to their home, and write up a "letter of intent to purchase or lease".He said to me, "your job is to bring me potential home sellers who will consider a creative offer."

Hi Max,That's my intention too.  

Each party to an investment has different interests with the same intentions to realize some sort of gain whether they are risk averse or risk tolerant.Investors might prefer equity financing for some distinct advantages.

Good Afternoon Everyone,I am a fairly new member to BiggerPockets and REI with the intention of jumping into the Miami market in the near future.