The chain needs to be perfect from start to finish.

Here are some issues that will get you in trouble, give you a bad reputation, maybe jailed as some "investors" here have been;The SAFE ActTenant/landlord lawConsideration given for a valid contractPreditory lending/financing and transactionsFraud, puffing the dealSo far, while I know you want to make as much as you can, you're headed down the road of scammers, step back, get away from guru strategies and give yourself time to study the basics.

I have perfect credit and make good money.

You have a perfect opportunity to place this transaction in self-directed Roth IRA for tax-free growth and withdraw.

I don't require a tenant to have perfect credit.

There are a ton of cheap properties there that are perfect for the buy and hold/cash flow investor.

I thought it would be the perfect situation for me to get into real estate.

Not sure if I could get away with that or not.

Also, if you type in "Notes" in the search bar...that should keep you busy and educated for a while. haha.BP is the perfect place to start a great network...which is vital to a successful REI business.Best of luck to you Brian!

This is the perfect time for you to "be real" with her and simply tell her that you, personally, are not in a position to give up on the monthly rent amount.