I think I will discuss extending the option 6 months at the current agreed upon purchase price and continue doing so every six months until the appraisal comes in at that price.

He will also continue to receive the scholarship money to use towards other investments for the next three years.Originally, he was spending a lot of time with me looking at owner financed properties.

Most have to do with continual communication, transparency, pre-approval thresholds, and accountability standards.One note, as a long distance investor, you will almost certainly not be able to get local bank financing.

Through networking in my area, I keep hearing "FHA wont approve" and continuously see "cash or conventional financing only" on the listing.

So I told my agent I'll pass on this property and continue to look for the next deal.

I actually closed on two residential lots yesterday, so yes, people do continue to buy lots depending on the area and the price.

Over the next two years I plan on using existing cash flows from my current portfolio to 1) continue the aggressive debt paydown on these two balloons and 2) purchase an additional 6 SFH or fewer multi-families totaling about $150,000 in total acquisition costs.The options I see are:1) current situation- continue paying off the two 6.625% mortgages over the next 28 months.

I just felt there were too many investors chasing the available inventory and causing the prices to be driven up to where there wasn't enough profit in my mind to continue pursuing them.

I continue to save, look for further deals and even jumped into having private lenders to fund future deals.However, I am having trouble determining my exit strategy and a situation popped up into my head.

I know the Texas market well. moved to Arizona and have had no trouble continuing to invest in Texas (I fly in every two months for about 5 days).