Once the numbers make sense, I will be pulling the trigger. 

His attorney has suggested we secure the loan with a pledge of stock in his company, but I'm concerned this may come across as a partnership and trigger UBIT.

I've been waiting to join one of your meets and really lock down some key land lording and investment strategies from you.

. :)in addition, our houses are in 5 miles radius and i can get to any of them within 20 mins with traffic..you really have to have systems (help) if you are going to take a long vacation. you have to have google voice, an assistant if they have to show the place, a crew/handyman that can access the keys from a lock box and STILL.... it's stressful because it's your property and those people can "flake out" at any point.but you have to train them and you do it by saying "i am going for 3 weeks, you are dealing with everything"... they might surprise you!!

I changed all the locks at 7pm after they were totally out, padlocked the garage and side gate, and made sure all windows were closed & locked.  

I just got a message from one of my tenants saying that her doorknob broke and she isn't able to lock the door.

In a HOT market, the MLS deals are few and far between, but a locked up deal with less competition is always sexy to an investor.  

Lock in a purchase price for a small fee in say 5 years and try to rent the property out for now and pocket the cash flow.  

Or to pull the trigger and go after them in court now.

Offering keys for cash is tricky, If you do, make terms short, like 3 days out and I'll give you $500 cash,, not out on 3rd day, file.. be ready with new locks and have him sign that he's vacated and will hold no further claims against owner.