But until it gets to the appropriate time to actually make those decisions it's nothing you can hold them to. 

STR's are uncertain due to the term length, one month you can make all the money in the world, and the next you could be paying for those bills out of pocket, so it would have to be strategically operated, but at the same time they can be a fantastic source of income!

We have ask for a mutual release and return of our $2,000 earnest money due to the fact we no longer feel it is a safe area because of the break in and there have been a few other red flags along the way.   

If I actually go for this, I'll be planning on an audit from day one and I'll have my ducks in a row :)

He has no money.

My strategy right now is to sell the land to a real estate developer to develop the home at a steep discount ($150,000) but make a claim on the stake of the overall project to get my remaining money back, plus the profit of the build. 

Many cases you need to pay brokers up front regardless of whether you actually buy something.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Then you add in the extra expenses and the money is quickly gone.

If you ever have any questions about a hard money loan - i'd be happy to assist!