If you are a registered voter in independence or know someone who is who would sign this petition, the person collecting signatures is Fred McGary - not sure if I can post his email address here, might be a no no- but you can PM me and I can put you in touch.There is also a new group formed regarding this issue on Meetup - its called Missouri Landlords, to stay informed, please visit this group so we don't have to go to 10 different places to post information.

I plan to go to the academy as soon as possible.

If owner, then here is your decision tree:Buy with sub2, and then hold and rent, sell as a lease option, or sell on terms to someone else (you could also list it if you wanted to, but I doubt you'd have success when the owner didn't unless the agent is at fault).If collect one time assignment fee, then here is your decision tree:Put property under contract to buy (with this, you can put the property under contract as sub2 and assign sub2 deal to someone, or assignable contract for deed, or assignable lease option).If you have the option to go either way, and you're local to the area, then there are more advantages to buying with sub2 (or being on the deed via a mortgage wrap, because then you have equitable title and you're not assigning - no one can ever start an unlicensed broker investigation on you if you're on title).So which exit strategy sounds best to you?

We recently participated in a free workshop called the flipping formula but after doing some research discovered that we could find the same information and help on here and decided to go that route instead.

I can explain the mechanics.Regarding that price point, it would make sense to go with a 2nd lien vs a 1st as the firsts we bought last year for similar investors turn out to be such low valued houses that unless you rehab them, you will not make little to no money.

I also like @Adam Schneider's suggestion to go to events so you can meet folks and find someone whose style and strategy matches what you are looking for. 

We plan on listing it for sale in January 2017 again but he keeps stating his desire to purchase.

He will have to go out again at a cost to you.

People tend to go with names they recognize.

You are not alone, although that does not help, be grateful you do not have to go into bankruptcy as many investors do.