Buying a house for $1,000 seems like you can't lose, but with those $1,000 houses come back taxes and in some cases, immediate foreclosure proceedings against the new owner. 

Scared money loses!! 

What if something happens later down the road where I start losing money because of the loan I chose or I missed out on saving money because I was simply unaware of a perk from the other loan?  

I get it but even if end up pulling out of this and losing the money, the amount of you learned is invaluable.  

I'm in the northwest suburbs of Chicago and this was my first rehab / flip.I'm not happy that I'm losing money on this one, but I learned SO much from it. 

It's not that I couldn't write him a check, but I wouldn't want to lose that much. 

Something always comes up in the transaction and you will lose moneyI would walk away from my $1000 EArnest money before I would put up $127000 cash to make $1000Let the guy getting financing buy it and then buy you dinner, then you would at least guy a meal out of the deal

Now you look like the skeezy player for trying to renegotiate the contract after the fact. 

Thank you all for the responses and helpful insight.I normally lose a month or so by waiting but I may to give it a try and see what happens.  

If he truly is a good property manager, then I would take on the headache of setting up the accounts dong the accounting to avoid losing the PM.