It would be faster than trying to track this one down and if this one never submitted the paperwork, they won't be paid.

We work with out-of-state/foreign investors consistently and the key is communication and being the type of company that is technologically forward-thinking (i.e. the ease of sharing photo/video updates and making selections for your property).Your first protection is making sure you can run the numbers for the right deal - looks like you have a good head for the numbers you need to hit, so you're on the right track already!

If you are seeking to get financing, your primary role is to demonstrate that you have given lots of thoughts to your risk profile, and that you are capable of mitigating the risk of default.

Ben, you dont need a CPA in Durham, you need a capable real estate savvy investor CPA and I would suggest you contact @Natalie Kolodij by PM and pay for her time to get these issues resolved for you.

Knowing what your financial capabilities are is a must.   

Estimate 40’ x 14’ It would be very easy to turn half of each one of them into a 3rd bedroom and still maintain an appropriate sized screened in porch on the other half.I have a guy that is very capable of doing the work.

Some investments are capable of distributing cash flow along the way and some will require you wait till the asset is sold before you get your share.

The servicer is not necessary if you are good at tracking the payments and the son trusts you enough to do as you say, but most savvy sellers want some guarantee. 

Start with the capital you have, move forward with the project, build the track record and continue establishing and building relationships in the meantime.

Or this is an expected question that should be asked every time until you build up a relationship of trust.It's one of those things, do I trust until someone gives me a reason not to, or do I not trust them until their track record proves that I can?