@Tiger M.There is definitely equity in the property - say $30k min.There will be a mortgage inside the contract and I haven't moved forward with these guys yet so I don't have the documents to answer specific questions regarding acceleration clauses. 1st position of course, owner occupied, and in the Midwest.I'm going back to MN to visit family and plan on checking out his operation.

Putting some pieces together and step one is talk to a real estate attorney. Ideally looking for an out of the box thinking, unconventional type.

Obviously your lease document will spell this out.

Is there any kind of documentation I should request to verify they are legit? 

When lending private money is there a downside to having your own name on the recorded documents?

And folks whose financial lives are not in order often have a very difficult time submitting a lot of the basic documents that the VA/USDA/FHA/FHMLC/FNMA require, as they often have things on their tax returns or in their bank statements that raise a red flag, or require additional docs, letters of explanation, etc in order to analyze their personal finances.

I will be sure to ask for documentation to find out what stage in the eviction process they are in.

Sounds fishy and sounds like they don't have proper documentation for what you are claiming.

Great news too, as long as you have an insured contractor, one of the biggest Builders Risk markets in the U.S. will now add on GL.

Perhaps there is an issue with me relying solely on documents provided by PM company stating rental incomes etc vs actual copies of leases or other info substantiating rental income)?