If you know how to price properly,  complete and adhere to standard state PSAs, contingencies, disclosures and addenda, open escrow and prove you are financially qualified to buy, go for it!

Well in that case he can just sit there with his dough in escrow and wait it out.. you will need to check the nuances of NY contract law on this.. cant really tell you myself.. but if they do cancel and EM is returned then yes your out of contract and no one is obligated to either party.NOW one out of the box thought is..you split the baby down the middle.come back and say HEY this is taking forever .. why don't I leave 50k in escrow  while you work it all out and just realase the 350k so I can at least put it in a money market account..

I know real estate is the number 1 way to self made wealth and financial independence.

This would, however, eliminate customer retention risk, employee risk, and large amount of debt obligation.

No one here has read your attorney drafted contract and so any answers as to your obligations under the contract will be of little use.

They had a lot of financial issues when they moved out and I'm waiting awhile to give them some time before filing a judgment.  

But, as a courtesy, I specifically warn about a constantly running toilet and the financial havoc it will cause on their water bill. 

Also, I'm having some confusion about what financials to put in my business plan. 

Most of my knowledge about REITs comes from my background in financial services.  

If you want to look at Owner Occupied Seniors, there are 8,558 (age 60-89, 20+ year ownership, high equity, home value up to $300,000, single family)Of these, 2065 have low Financial Stability Scores.Message me with your email address if you want to see the full reports.