It can be as simple as a letter both of you sign.

I have borrowed from my 401k and it is a pretty simple loan. just don't take it lightly. 

hi jonathan. these two ideas are good on the merits, but your situation goes a little deeper than what they are recommending. sure, banks will not give you a loan without credit and a job, thats simple enough. you can just get a job, but you cannot just get good credit. i would recommend moving to another area. $40k will not get you very far in las vegas or any place west. here in buffalo, we have a good market. the prices stay pretty level for the most part. the killer is the taxes. then again, we have the winter issues too. not only does it get very cold which makes it hard to work on a place, but we have winter about 6 months out of the year.....lol. as far as your credit, pick up a part time job in a field that you have been in before. then, the job is a lateral move, not starting a new job in which you would have to wait 2 years before you could get a loan. second, take $1000 of that $40k and put it into a bank. after a month, go get a $1000 signature loan from that same bank, using the $1000 you have in the bank as collateral. state that it is a short term loan that you intend on paying back in 6 months. then, take that borrowed $1000 and go to another bank and deposit it. after a month, borrow another $1000 from the second bank, again using the deposited $1000 as collateral. continue this with as many banks as you can. when the first note comes due, use borrowed money to pay it off and continue as such with each bank. what you are doing is establishing credit with these banks and soon you will be able to go into any one of those banks and borrow money because you have good credit with them. 

When another investor finds an easy way to evaluate multiple asset classes by one simple formula, it creates opportunity for the next. 

I know I can hire a mobile notary service to deliver the paperwork to the client and get signatures, etc.I know this is simple stuff for most of you guys but I just have not gone through the process myself.

Works great and makes it dead simple to share individual leads with partners or buyers.

I have never seen a Detroit booster answer this simple question:Detroit has housing stock built to house 1.5 million people.  

I'd see if there is some way to get some of the EMD back, rather than lose it all and the justification could be that the seller's attorney claims it's such a hot market, so putting the property back on and getting another offer should be simple, right?  

Get out".Simple solution though, if they haven't paid for 2 months, file a 3 day notice to the front door today, take your dated photograph, and file for an eviction on Monday or Tuesday morning next week.

Simple answer is that you don't have any liability for what a tenant gets up to in their home, or at least very little.There are lots of scare stories about forfeiture and all that, but you have to be caught out quite a few times, and known to the cops yourself in the first place.