An investor uncle said he could deed the house to me and include a promissory note that he would be paid by a specific date (4 months). 

Purchase price: $2,000,000 Cash invested: $200,000 Acquired 35 doors.

Off of the purchase contract, I would verify proof of funds, ask for prequalification letter from a lender if buyer is receiving a loan, with a good faith deposit.

i'm would appreciate the communities perspective and input on the following question below.Property Criteria; House hacking duplex or triplex Purchase price: 260k - 310kEquity or Cashflow deal ?

After 45 + years investing in, purchasing and selling notes and real property; structuring “deals”, running investment funds and syndications, I have observed that many (most) investors both hesitate too long gathering too much information before making an offer AND do not do enough investigation, analysis and due diligence before they finalize a purchase.Seems like opposites, right?  

Looking for any feedback as this is my first purchase.

Background:Miami-Dade Condo property.I am a first-time seller.No mortgages or loans on my property.Standard Florida Realtors Association / Florida Bar AS IS Purchase Contract.Buyer in default on various provisions and must proceed to purchase as a cash purchase, per contract, so there should be no financing related title charge son my end.Contract only lists the following seller/closing/title fees:A.Documentary stamp taxes and surtax on deed, if anyB. 

I am a Dan Diego RE investor and most of my purchases were easy to see that they would make money.  

At the time of booking guest agrees to house rules which specifically states fees for various items.

Whereas, in a local REI meeting teaching out wholesaling the instructor told us specific municipalities not to put out bandit signs or you will get fined.