You might be slowing down or losing sales opportunties.

It seems unfair that if I decide to back out of the deal, I lose $1K + inspections, but if one of the kids decides to back out of the estate contract, there is no negative impact to their side.

Subject-to deals, lease/options, short term flips where you do not close, joint ventures with other investors who can qualify are all possible strategies.Or you can just find one investor who needs extra help pounding nails and work with them on projects.

I only want to go back into that unit for paint and small repairs for the next 5 years.Also, if you see that you are not going to be able to rent the place before the previous tenant moves out, it may be worth jumping into a renovation at that time (since you are losing that rent anyway).

Granted some hard money lenders will not want to do such a deal as it means you as the borrower is more likely to lose control of the project.John Corey

It sounds simple but something tells me it isn't.A secondary inquiry would be whether or not I could sensibly handle multi-unit (5-plus units) properties using commercial loans - an area I've never venture or come close to inquiring or learning much about.

My dream is to become a Venture Capitalist and the only way I will get there is A.)

Rate, term, payment, skipping payments, early pay off discounts, right to substitute, right to subordinate and other aspects.In any negotiation you have to recognize when you are losing the other side.

The out-of-state property management does have it's challenges especially when there are build-out projects happening, but it can be done.I have worked with a lot of what I call "serial entrepreneurs", who don't always just stick to one type of business venture.

Many banks are offering shallow to no discount on REO.I expect that to change as their inventories increase and BofA loses some of its hold on the other banks.