I'll only accept people with a track record of on time payments.

That said, you'll want to test drive the relationship with them prior signing any doc.

I feel that reason alone is acceptable for me to break a lease

Apparently she was trying to buy the property at the same time as me, but the bank accepted my offer.

If your borrower defaulted, you would only accept a deed in lieu of foreclosure if it was to your advantage.

for a newbie ..the best property is the one that you can access as many times as possible before you close. having the property under contract and "acting" as an owner, contractors will talk to you ..you can get bids, quotes, do inspections, termite letters, radon tests, mold test, etc ...imagine bringing army of inspectors when an owner still lives there ..not possible. you control purchase price ...so make sure you factor all things you need to change, add, update into ur costs ...u need to discover as much stuff as possible. once u do 10 flips ..probably short 10 minute walk will be enough to get u rough idea ..but by that time ...inspect, inspect, inspect

You will be in the property between $5k and maybe $6,500 more than what you wanted to pay.If that is not a major consideration for you guys, then accept the best deal you can get and go forward.

And when you add the cost of flood insurance to PITI and other expenses your cash flow on this property is probably below acceptable goals regardless of the cash flow it creates without a mtg.

This is an all-cash deal, so there's no way to test the "lender requires GWD" theory...perhaps things are just different in Delaware?

From what I understand regarding insurance checks if you cash it the insurance company considers that acceptance of their deal..