My worry would be class of tenant, but also the safety of the property when it goes through spells of vacancy, whether it be stolen mechanicals, stripped flooring, or exterior damage.

If he is living in it HML generally will not make owner occ loans because of licensing and dodd frank issues. and then your conventional lenders number one thing is fico. this is a friends and family loan.. you need to loan him the money.. you take the risk. but generally speaking to have both parties with crappy credit unless its a health issue.. is simply an indication of someone with challenges prioritizing the realities of life..

And at the end of the day, if you provide the proper safety features, there is no more you can do than that.

They have no safety net so every little upset in their life can cause a unit to turn over.  

If I’m deceitful or prioritizing my interests in another direction, it’ll be evident and no one wants to work with those people...ever!!

In such event, the Landlord may serve Tenant with a seven (7) day written notice of termination, whereupon the Tenant must pay the unpaid rent in full or surrender possession of the premises by the expiration of the seven (7) day notice period.Furthermore, the Tenant may be terminated with three (3) days notice if the Tenant has committed a substantial violation of the Lease Agreement or applicable law that materially affects health and safety, and the violation is not cured prior to the expiration of the three day notice period.

Property Condition: This is supposed to be a turnkey type of model, yet there is a clause in there that states: “It is further agreed that the Seller has not warranted, and does not hereby warrant, that the Property or any improvements located thereon now or in the future will meet or comply with the requirements of any safety code or regulation of the state, city, county, or any other applicable jurisdiction or authority in which the Property is located or having authority over the Property.”4.)

If you want to develop a relationship with someone that prioritizes integrity and loyalty, give me a shout. 

You can’t hire a handyman over $500 (on all work - labor and material) without a license or a 1099, if something goes wrong, you lose the 15k contractors bond leverage (your safety net) as well which you could chase if this GC fails to perform the contract.

If you fear for your safety contact the authorities.