Like many of you, it started with Rich Dad, Poor Dad, then to Youtube, along with a ton of other quality books (Many by the awesome @Brandon Turner). 

I want to get my feet wet and make a deal already but I'm not sure if im rushing into it.I have started off reading Rich Dad Poor Dad and it was a fantastic read and now I'm going to buy Davird Greenes book of out of state investing.

Odds are you will never collect a dime, but it only takes 30 minutes to turn them over to collections and you may get something out of it.At a minimum, it will sit on their credit report and may prevent other Landlords from making the same mistake.

Does that mean it could impact his credit?

I'm actually finishing 'Rich Dad Poor Dad' right now and I understand why it's had such an impact on many of you. 

I wanted to know if this loan would show up on the person (that I’m lending )credit report?

My credit score is good (800). 6% seems high to me. 

There are plenty of people with moderate or poorly performing rentals that don’t understand why it didn’t work.

@Coty CrayI’ll go lower on credit scores but not on the things you listed.

These are two separate contracts.Third Rule -  Never give rent credits...ever.Forth Rule - The Option Consideration is the act of the person buying the Option.