However, a lot of banks once a piece of real estate has gone bad on them they won;t finance that property again.  

Up t 1 year in jail and $5,000 fine per instance. 

I've made the commitment to change my spending and saving habits.

Since everyone in this deal other than you seems to be sketchy, I would make certain your i's are dotted and your t's are crossed and get this positioned the way it needs to be Prior to closing.  

t out of me every time i get one in the mail.

She's already committed to fixing it up.

Thanks for the link @Chris T. the 3 times income to rent rate and clean credit score may help... i think more so in the more expensive markets, but in lower income housing... i think you'll be hard pressed to find an applicant with clean credit or income that can back your justification on denying the ex-con..?  

I do however want to talk to him and let him know how I feel about it, hopefully he won`t make the same mistake with another investor.Redgy

@Chris T.

Flippers do their math something like "if I can't be all-in with a 20% profit then I'm not doing the deal" and it feels like yours is a "since I am not outing anything down I am technically making a profit" but you are committing to the loan and I am concerned you will end up with someone else's problem.