I keep mine no more than 20-30 minutes away.

Mine sends me a gift certificate for B&R ice cream on my birthday every year, when even my own brothers and sisters forget about me!

. - $20k+ as a 'non refundable' (then reassigned) option fee.Have a look at Ron LeGrand's three part series hereafter, I'm currently viewing: (He also has 'contractual agreements' for Canadians, with the 'Gold Club' membership.

Yes, there are con artists, liars, cheats, crooks and others who attempt to borrow under false pretense regardless of laws and penalties.I've given a lot of information out here, there are gold nuggets of financing matters scattered in thousands of posts, too much really, but most of it is here.We also have hundreds of real estate investors here who have done some form of financing, Realtors, commercial guys who throw out comments and advice in financing and most are incorrect.

In these communities, the economic fuel, whether mining, industry or government subsidy, eventually peters out and the economic engine seizes up and is dead silent. 

Amortization can be great as it allows deductions and can be added back towards income qualification.Depreciation, amortization, depletion (like Bill mentioned, forests, oil, gold mine, etc only has so much useful life/value) can be added back and a few other items as well (home office deduction, depreciation on business mileage on sch C line 44A can be added back at 23 cents per mile, and etc.Fannie Mae did 1 year self employment tax returns back in late 2012 maybe but I have not gotten a 1 year tax return decision on FNMA lately.However Freddie Mac (4 financed properties max) you can get 1 year self employed tax returns all day long even with down payments as low as 5% down (OO).

Because I don't use partners or lenders, mine is geared differently than yours may be.  

Take the advice of the plumber over mine, he is actually looking at the boiler.

I actually sold the property to a buddy of mine.

I have not been in such a partnership personally, but a business partner of mine has.