Make sure they rent is no more than 33% of their income and they have no criminal history, collect 2MO security deposit and you will be fine.

No more communication with the buyer until/unless he sues, at which point either go to small claims or hire a lawyer to do it and counter sue for legal costs of a frivolous lawsuit. 

And remember the rule of thumb: if you're not renovating your property, you should expect any rehabber to pay no more than 70% of the perceived after repair value, less any repair costs or other profit needed.

I only want investments that are no more than an hour away-that works for me.

Also very odd about the "I'll give him half his deposit back but no more".

New appliances, bathroom remodel, multi year lease with guarantee of no more rent increases during that time. 

Service members are no more likely to bring trouble to a landlord than any other potential tenant of the same demographic.

“Insurable With Repair Escrow: A property that requires no more than $10,000 for repairs to meet FHA's MPR and MPS.

well I am not a NPN expert by any means but this is an interesting question so this is my best guess's1. the 189k is all the property is worth.. in reality.. so that's why its listed at that price.. and probably in contract for around that number.2. the seller does not realize you own the 2nd and who ever sold you the second probably realized the value was not there and unloaded it to you.. 3. your in the drivers seat in that this deal can't close without you signing off on your payoff.4. this is a short sale .. the first lender will be asked to take a short and will usually only cooperate if you as the second take no more than about 5k for your position.5. if you paid for than a few grand for the 2nd your in jeopardy.6. if you don't cooperate and the 2nd is in default you can foreclose payoff the first and deal with the asset.. 7. if the seller gets frustrated they just walk and squat stop paying on the first it forecloses and you either pay it off or it wipes you out completely .either way.. 2nds for most folks are pretty risky.. unless of course you paid next to nothing for it and its just mad money.. that you can easily lose. and just chalk it up to well that did not work.

I have begun using Carbonic Heat in my units and have no more mold issues.