Hi all from Bigger Pockets community, I am a newbie real estate investor and just starting out in this domain of real estate investing with the sole aim of achieving financial freedom.

*It should also be noted, I was building a relationship with the commercial lender there for many months beforehand- asking for meetings, bringing in financials, we interviewed each other etc.10.

@Jorge Pena, a dissenting opinion from a little pockets investor.Unless you are in danger of drowning financially, I would keep the property and proceed with the reno, even if it goes a little slower than you plan.  

I'm excited to be involved in the BP community and I look forward to meeting new people in any/all markets as we all work towards financial independence! 

This ends up being the same thing financially in the end for the buyer if they end up exercising their option to buy.As the seller, this ends up netting out the same as rent credits...if the buyer exercises their option.Now, if the buyer doesn't exercise their option, the seller gets full income from the full rent each month.

Hey @Lisa HodgesForgive me if this post sounds too simple, my intention is to answer your question.Assumptions: Assuming your goal is to attain financial freedom, meaning not obligated to work a day job, you'll need passive income to afford that lifestyle.

Hey @Ken Thom ,In Minnesota, you are not obligated to disclose your intention for the property after acquiring ownership.

Our financial situation is significantly different than yours, though, and you need to do what is right for you.

I would hire one out independently so that the results are not biased.Secondly, you should absolutely get your borrower's financial information: recent pay stubs, last year's tax return, any other retirement accounts, or IRA accounts, etc. that your borrower can show.

I’ve spent the last several years working 80-100 hours a week and do not intend to do so forever and I believe real estate is my key to financial independence!