Simply make a correction on it, initial it, sign it.

An election can be made to move the $5k and the associated interest over to Sch A so you won't "lose" the decision in that manner.But if you can't find a way to apply the capital in a feasible manner, don't make a hasty decision simply for a $225 write off.

As a landlord, I'd recommend a membership to WA landlord Association (WaLandlord.com,t hey help answer these kinds of questions and have great forms.In Washington the rules are below.  

One specific question I have with this group and others is what prevents a sponsor from refinancing in the latter stage of a deal and simply returning only an investor's original capital contribution and then subsequently selling the property and keeping all of the appreciation for themselves?

@Robert T.  

This could become a good investment due to the large number of people that simply say they would not consider it.

I have been studying the markets around me for months and have been putting in offers regularly and have yet to get one accepted just simply because of how hot the market is right now and the very low levels of inventory available. 

Originally posted by @Karyn T.

You should also consider that things can move in the opposite direction and potentially you can lose a that investment just as simply, so it is a riskier investment.  

I suspect the seller does not want to wait 35 days.. so do you then put a very short term Loan on property with the middle man on title.. or do you simply take title?