I'm not saying it's the best decision but considering the cost of well drilling and septic systems many of the installation contractors offer third party financing.

I wish you well but I'm not sure the banks policy on 203k draws and non-performance of the scope of work. 

Granted these expenses will be much less out-of-pocket than hiring a third party, but having a percentage for property management in your budget will make sure they are covered.

On the third Monday of next month, we will be having a meetup at Beef O Brady's in Lakewood Ranch. 

If an investor performs proper due diligence and buys right, the investor knows the total return though exit of the property at the time of acquisition.  

Make sure your contract states that keeping the earnest money is the other party's sole remedy and not specific performance.

Regarding historical performance every project we have done once stabilized has performed at or above our original projections used to sell them in the beginning.

Friction during the investment process is a bad thing and I am not sure that most accredited investors will ever be very fond of turning over their financial information or having third parties speak to their advisors about their financial situation.  

I just read a report that showed Sacramento as the third fastest growing market for rental prices, I had no idea it was so strong!

I will also be a nice guy and get enough of a down payment out of him to cover the cost of the credit repair that I will perform for him so that he can cash me out early, once his repairs are complete.