If you start a LLC with both of you on it then you need to secure commercial financing.  

He was told by the judge not to look in the direction of my house, never to see our tenant, and when he comes out of his yard, he should always turn left so that he doesn't go past the front of our house - going right out of his yard would breach the restraining order.

See ya later security deposit 

Once I had secured the land, I started finalizing the building plans and working with my GC on the construction costs.  

Hello Community,I am an investor/wholesaler based out of Las Vegas,NV.I recently picked up a property under contract in New Mexico "sub to"My plan is to secure an Owner Financing transaction were I can put a family in the property.

If you do get stuck with it and your tenants don't pay you back, you could withhold it from their security deposit (assuming you gave them a copy of the rules when they signed their lease and incorporated them into the lease).

If you get this house or not you will defiantly save the heartache in the future knowing you can secure a loan.  

I'm not an attorney, please seek the advice of an attorney about security/funding laws.

If you take a line of credit secured against another asset then you're essentially buying for cash.  

A POF from a convential lender means you have passed the lender's credit and income criteria, and if the property appraises high enough, with no title issues, financing will be available.Since hard money lenders place much more emphasis on the property securing the loan, the POF letter ranges from significantly less reliable as compared to a letter from a conventional lender, to outright worthless (some hard money lenders provide a form and you fill in the blanks, i.e. no real approval).