So if I moved out by then I would have to charge him market rate or he would have to leave.

That's why I want to make sure we both win, not like I'm just paying him a wage.I suppose it makes sense to start out with me 100% in control, and when he has some skin in the game, then we can work out different numbers.

Finding a good wholesaler may help but I emphasize the word "good", many of them tend to leave little room for the investor...no offense to any wholesalers in the discussion.

I would want to understand their reason for leaving AZ if they had good incomes there; maybe the employer in AZ was going under, so moving became a good idea; maybe something else was going on.

. - you have t start to think that "thicker skin is a necessity in business" ....

Leaving me with $12,000 per year in clear theoretical profit.

Hardmoney lending is sort of like being a limited partner in a real estate partnership with a little more skin in the game.

When I sent it back to the broker he returned it to me and had me leave those portions blank.

They're just paying rent, so can leave whenever they want.

Leaving the cash in the project still wouldn't be a bad return, but it's much prettier to cash out 60% and have no money in the deal with an income stream and a 40% equity stake.