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. 

I use my own unique forms all written in my favor ,I record my own deeds at the courthouse and write my own notes on my mortgages when I sell . .

If you're not buying from a builder and building on your own (so no final sale record), use a slightly inflated value just in case.