Keep in mind a few things: I kept accurate records of everything.

"In 2016, 110 million Americans had an arrest record with police authorities.That is over twice as many people as in 1997 (when the total was 54 million) and works out to 44 percent of our adult population"....

In my experience most banks aren't searching records to call loans; the .5 to 1.5 difference is probably $35-100 difference in payment.

Retain all records including emails, voicemails, contemporaneous notes you took, the MLS listing description (and print/save it before the agent can edit incriminating evidence out), contracts - everything.This is a mess.  

You can have an attorney draft the agreement, have it recorded and you get the deed.

Also, it's the south side of Chicago so know the safety record and types of neighbors on the streets. 

@Kimberly Kesterke good learning and good advice here, seconded.Put together a record of the credit card charges he used to buy non related job things.

@David Beckley Does this person have a long track record with this bank and/or do they have a ton of money in reserves?

- Track Record: I want to see the Sponsor has a track record of good real estate investments

So I went to the Alleghany County Property Records website and looked it up:I noticed that it's 1,660 square feet, giving it a cost per sq ft of $43.91.