I think you can follow advice from either a Canadian or American.

Would it be the original $350 requested even though no official written agreement has been executed? 

The idea is to surround yourself in people who can execute on your ideas... that kind of thinking makes billionaires out f millionaires IMO....

Kaiser paid the Radvicks $500 and the Radvicks agreed to enter into a purchase and sale agreement and execute a quit claim deed to Kaiser.

I know the rule stating"Re-sales occuring 90 days or less following acquisition: If the re-sale date is 90 days or less following the date of acquisition by the seller, the property is not eligible for a mortgage to be insured by FHA." [24 C.F.R § 203.37a Sale of Property]I am wondering if we can put the house for sale/ negotiate a contract without executing a purchase agreement and put let the buyer move in under the terms of a 3-5 month lease and security deposit with a higher rent that would be credited toward the purchase price.

Include an option period in the contract so that you can back out at any time within X days of execution of the contract (the amount of time you think you need to find a buyer) and include in the contract an option fee that is not so high that you are going to take a big hit if you can't find a buyer and not so low that you are wasting the seller's time.

And don't forget, what ever you set aside must be from the initial discreationary income, it can't be from your "sinking fund" for liabilities.As Americans go in the savings arena, we are woefully behind others.

The socialists in government decide to over ride the free market by use of judicial rulings, executive rulings and Presidential bullying.

mod=ITP_moneyandinvesting_0From the article:The report shows how on Dec. 14, 2006, executives gathered in a conference room adjoining the office of Goldman Chief Financial Officer David Viniar.

So, what you do here is: you go to the sheriff sale or deed sales auction conducted by the county and you sale your deed to another investor that is going now after paying you for it execute the foreclosure process to really get the property finally.