They have been a great resource for me as I advance my knowledge and comfort level to move onto my next project.

I'm certainly not going to spend thousands on marketing and throw away leads that seem out of my comfort level.

I would be more comfortable with something more specific like:"Buyer to pay all costs for title insurance and survey so long as Buyer selects the closing/title agent.

If I was in your shoes I would definitely be trying to do this...I would think who out there in my area has done this kind of thing before and then when you have the land tied up ask them to partner with you on it.. yeah it will be less profit for you but if they walk you through the whole process and you still make a good chunk of change whats wrong with that?

I guess something like this was bound to happen eventually, but I had hoped it would be ten years down the road when we had more cash on hand to comfortably weather the storm.

So are you still comfortable your knowledge of the area is up to date?

@Daniel Dietz I really like the idea of building in the 1% per month incentive, it helps make the lender feel more comfortable and gives me some built in wiggle room if I need to extend the time a little (not for too long though!)

Tell the tenant they need to pay by a date you feel comfortable with and stick to it(Fri or Mon would be best).

After speaking with an attorney and reading this guide, I feel comfortable with the situation.

@Rodney Kuhl , if you're comfortable with the size of the investment, I definitely recommend not a SFR or duplex, but a fourplex!