The first step for the capital source will be to decide if your strategy has a greater potential for being a winner rather than a loser and then they'll do extensive due diligence to prove out the strategy and your ability to execute. 

With nearly 30 years of experience in the hospitality industry and real estate industry, Miles is a career hospitality executive.

Does anyone execute formal written contracts with subs?  

I would suggest doing your first flip in an area you are very familiar with and currently live within 15-20 miles of that property. 780 credit score and 20k in cash is a good start but it depends on how big of a project you are looking to execute on. 

FSBO Forms - Jack TaylorIf you have specific questions regarding the completion of the disclosures, the execution of the contract or dealing with a buyer who has a Realtor, feel free to PM/email me.  

Make sure you have the right language (talk to a lawyer) in the agreement so that you are protected in case you need to evict.The type of loan they might get once they execute the option isn't really relevant since they still have to apply and qualify for a loan at that time.Rent to own isn't a great thing for tenants.

Having the right structure, protection, and tax strategy is key to having a solid and viable business.Wish you the best as you read and execute on your goals.Cheers!

If you do choose to borrow against your 401K make sure you have a repayment plan in place that you can execute if you do get released from your job.

You are right that I've likely reached the point of over-analysis and it's time to just jump in and execute.

The Grant Deed executed in Apr 2012 does say Deed in Lieu of Foreclosure hand written on the document.