I have a trip planned in a couple of months to do some exploring of a potential areaand feel encouraged by having such a wealth of information available here and the certainty that when I come up with a new plan or idea there is a generous community to help me look at it with experienced and objective minds.

Additionally, if we continue the cash approach it will surely take us longer to reach our objective.

Again, finding the right balance to achieve your objectives will be key.

If your objection is to how how they are living, you can't legislate this.

If you have a major employer who supports 10% of the town then you could face serious pressures when there is an economic slowdown and they cut jobs, reduce hours, furlough employees or look to outsource work to cut cost.You have done some reading on BP but are you ready for investing in the US.What are your objectives, goals?

I believe strategy is very much a personal fit to your skills/resources/risk/objectives/weaknesses. 

@Jd Martin, ah, it looks like the vote police have waived their objections...

Better way: Performance Trust Deed.That being said, I don't think you have a clear vision of either your objective or the current owner's long term plan.

In regard to going out of state for investments what is your objective with that, California is a big state that offers lots of opportunity.

The objective is to realize an investment gain which may be a challenge when its time to dispose of your RE condo. investment with fees & taxes.Like State & Fed capital gains, ACA (Obamacare) , depreciation recapture, RE fees, Closing costs and the like.