I like your attitude towards the game, professionalism, responsiveness, and obvious involvement with your investors.

Best to talk the tax issue over with a CPA but the loss will be reflected in the K-1's and can offset gains in other deals, provided they both flow through to the same entity (or you personally).

Selling @ $500kLender providing $490kCan the remaining $10k be carried by seller?

I also can provide context of what characteristics each area has.

@Alex Clark James Wise will be your guy for this area; looks like he already provided a guidebook for Cleveland.    

I think it's especially important to substitute knowledge of an area with either strict numbers (that will likely keep you out of the game these days) or a solid team on the ground that knows it for you. 

@Chris Seveney hits the nail on the head, you don't need concrete "legal proof" to provide to a realtor when submitting such offers.

This property is in Phoenix, AZ.Thank you so much for any assistance you can provide!

If anyone could provide contacts in the Buffalo area that would be great! 

This is of course for a primary home but its a great way to get into the game similar to VA - Military 100%.