Also, I now use less leverage as I don't need to maximize Cash on Cash return %, but rather prefer reduced risk.  

Earnest money has yet to be returned, has been 2 weeks since contract considered "dead".  

It's factored into the cash-on-cash return and increases it so it makes the returns look much better and the property more attractive in certain ways.What is this principal reduction?

I secure the 20% needed from a private lender; how does the private lender get his return? 

Gather up your transcripts, diploma, 3 years tax returns & W-2's (if you have that many), 1 month of your pay stubs ( if it's direct deposit they still send you something) & 2 months of your bank statements and find a good lender to get you approved through FHA.

These lockboxes require a combination to access and can be easily changed. 

No doubt, this property will generate great return. 18%ROI - We bought it for 32k+17k Reno; all in for $49k... in a very desirable neighborhood.

That's $90/door and less than a 6% cash-on-cash return.

Bigger Pockets Community,I got lots of great advice on my first post yesterday so now I feel I owe the community information in return.

Do you want highest return on your money?