Do your DILIGENCE and use their "urgency" as a negotiating lever- If the seller requests to move-out after the closing date, be sure to hold half of their profits with the closing attorney to ensure they move out on the agreed upon date- Visit the home frequently.

Ask a lot of questions during the estimating phase to ensure you've both thought of the potential hiccups.

You just need to weigh the interest penalty vs likelihood of refinancing early.  10yr also helps ensure you get through a market cycle before your balloon is due which I'm a big fan of.

It will also ensure you get paid back when he (hopefully) refinances.

HI @Scott Gadea, the answer is:  Save more money ORInvest in a lower cost market Both are methods that people have used for years to generate great amounts of financial stability or wealth, but the latter is a wonderfully efficient arbitrage play AND many would recommend this because of the fact that your home market is a cyclical market and you'd be wise to build assets in linear markets, or at least hybrid markets that blend the benefits of the two.For more information on investing in real estate outside of your home base area, check out David Green's book Long Distance Real Estate Investing

Partner 2, has met with agent, the contractor, and will be ensuring the project is on track.

But your technique seems more efficient!

You can have it inspected to ensure everything is done correctly and have a reasonable certainty that you won't have any issues. 

Efficiency and effectiveness drops off too quickly below freezing to my understanding.Thus I would keep the gas...Also, if you want to get into the “power outage” scenarios... at least gas is “available” power source (unless there is an earthquake).

Heat included w/rents (2 year high efficiency boiler) Roof is two years old.