Lets face it, the real risk is the principle anyways so protecting that is most important.I also have no early payment penalties and often, the ability for the investor to roll into the next deal allowing their capital to be constantly working for them.All loan docs should include the interest rates, loan terms, and payment schedules. 

I'm working on getting my first piece of property and am now looking in Buffalo, NY which is ~6 hour drive from where I live.

@Rick Richard before you sign that offer...are you working with a Realtor?

Why not get the heloq on the property your doing the work too?

If the numbers work out then you are good to go.How does someone truly manage a property "effectively" from a distance? 

I've sat in on some of the 90min deals too and could tell pretty quickly that they weren't the experts they say they are and certainly gave a lot of false information about how sales work locally. 

The math works for that buyer.  

You should always vet your agent to ensure they are experienced and working hard, full-time, in the market.It's nice if you can find an agent that specializes in real estate investing, but any solid agent should work well for you. 

Do you know why the work is stalled?

What to watch out for when working with them?