You’ll need your closing statements to determine which costs are deductible and which ones get added to the property basis.

She will need to be able to afford the property on her own or you could co sign to get loan if her debt to income it too high.

One week before the final signing the buyer loses their job after which the loan processor calls the employer to verify employment so the deal can not close.

Some of that has been changes approved by myself but a lot of it is stuff he didn’t estimate properly when we signed our contract.

You'll want to drive all the streets of a neighborhood looking  for homes that have signs of vacancy (tall grass in the summer, or non-plowed driveways in winter), or are just in poor condition.Then look up the owner information via public records and try to make contact one way or another.

Depending on the contract it would determine whether or not there is a "due on sale clause" But honestly it really depends on the lender.

And if it's determined to be your fault, his insurance will file a claim against yours under subrogation.

Does anyone have any advice on determining viability of the investment in the short term rental market?

He sold the business to someone else and I've heard they use actors as their speakers and it's a hard up-sell to attend one of their bigger, more expensive seminars where there is a hard up-sell to sign up for private coaching.All the courses I've looked into are "gurus" trying to up-sell.

Now that you know how to calculate the current value or potential purchase price on the property...let's talk about determining ARV on this asset. 1) Do a complete rent comp analysis to determine if there is room to push the rents higher2) If there is room to increase rents...then you can start to determine what the value of the property would be after increasing the rents. 3) This will then allow you to back track to determine how much you would be willing to spend per door on CapEx improvements to achieve the rent premium.