And now with rates being high, plus many areas overbuilt with new apartment buildings, I’d be careful with unknown areas, and also what you read in the media about “hot” areas, up and comers, etc.I was in a similar situation to yours a couple years ago.

Or what some of the more experienced investors on here would do with my current situation. 

But that doesn't mean they can be perfect for you.You may be in a situation where you don't even need one however. 

The chances of this situation happening are not high but it does happen.

Does anyone have some good contracts they have used in the past for a similar situation?

I’ve been in your situation and have had to call dozens of banks before I found one that gave me what I needed.

I actually also had the same situation.

What is the supply and demand situation in Las Vegas?

I'm curious if this has come up with anyone else and what I can do to help the seller in the situation to get the deal?

I’m also considering advising my tenant to look into Section 8 assistance, as it could help support their financial situation while allowing me to adjust the rent closer to market levels.