Pros: I can not think of any that would be better than any properly screen applicant.Cons: you are renting to the government. 

If this is not set up properly for your intended outcome, it will go to Probate, which will take lots of time and money!

You can generally move the note to an LLC afterwards.Generally if you have one property and have proper insurance it isn't likely you will need an LLC.

Another option is to expand your search to northern PG County.

Whats the proper process.

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE- check out this article to learn more.The fourth pillar is somewhat similar - you want to separate your operations from your assets.

In my head I thought, "Okay, he will take the draws and use it properly to conduct and complete the project."

Just a quick question, when you're not dealing with a buyer's agent, do you typically hire a lawyer to review the contract documents to make sure that you are covered properly?

We are actively expanding into Phoenix and would be happy to talk with you more on this.

@Revis Boyd Isbell III The walls may not have been properly prepped before painting.