And most critically, we've had to explain the sizable amounts of money we've spent overseas and on travel expenses - as our first daughter is from Colombia, and our other two are from a country bordering Turkey and Iran.So yes: we've traveled extensively to countries with colorful histories, and have large transactions of cash in and out with some degree of frequency - we're the perfect borrowers :-)

I just don't want to lose a tenant and then start construction and then try and perform the repair while attempting to relist.

I wish you well but I'm not sure the banks policy on 203k draws and non-performance of the scope of work. 

If an investor performs proper due diligence and buys right, the investor knows the total return though exit of the property at the time of acquisition.  

Make sure your contract states that keeping the earnest money is the other party's sole remedy and not specific performance.

Regarding historical performance every project we have done once stabilized has performed at or above our original projections used to sell them in the beginning.

I will also be a nice guy and get enough of a down payment out of him to cover the cost of the credit repair that I will perform for him so that he can cash me out early, once his repairs are complete.  

If you manage your own properties, perform repairs, etc this is sometimes the case.

Currently most interested in hard money lending and non-performing notes.  

Your IRA can lend it to other investors, it can partner with other investors, it can buy notes that are performing or non-performing.