The owners, by definition, are in financial distress and just not in a position to do it.

Hi all need help.. i live in NJ but i am hearing i will get more protection if i create my llc in a state like Nevada and just register in nj as a foreign entity, which i believe will cost more since i now have to pay two states fee.

If only for 1-2 years and you want to be safe, 2 suggestion:1) TIPS bond funds (Treasury Inflation Protected Security)

My main concern is the financial part. 

By creating a written lease agreement, you give yourself the ability to create restrictions on the tenant to protect your investment.

Here's why: Big red flag is that he wants a contract before he is willing to show a potential buyer the financials of the property.

Some of the corespondent investors that we use are: - Angel Oak- Caliber Home Loans- Deephaven Mortgage-Impac Mortgage Holdings- JMAC Lending- Pacific Union Financial- Sprout Mortgage

If you did you'd probably charge a lot of money and probably give low limits so you can protect yourself.

You have to do your research, screen them, and choose one that will protect your income and your property. 

Just by first glance at the financials, you are getting by slim.