You sell the property for the same $500K to an owner user with $100k down and carry back a wrap note of $400k at 10%.  

I was told by the neighbor that 3 houses on the same street were bought by a realtor and rehabbed and now rent for $1600 each. 

Hi David thanks for getting back to me, its funny you mentioned kindskiptracing.com i came across them in the past few days... they seem to have some really good deals on skip tracing leads, especially for someone just starting off (pay as you go).

ACH payments by their nature take a few days to know if it actually clears (you can know faster for credit card payments). 7-10 days I'm guessing is something like this:2-3 business days Tenant -> Zillow2-3 business days Zillow -> LandlordSo in summary, you'd almost surely know within a couple days if the tenant sends a bogus payment, even if you don't get it into your bank account until later.

I call the last 7 days before the auction date "hell week" for a homeowner in foreclosure.

(Six days after signing of the contract and way before closing date.)  

And then you are applying for a HELOC on that same house?  

If it does not sell in 60 days we will turn it into a co-living space.

It also has a double car port and a storage shed of the same size.

Does the same apply to a STR (of course there's no lease, but there are reviews and established revenues)?