I would like to find a single family or preferably multifamily house to live in and rehab while I am here. 

Do you assign or do you prefer a different method?

Once that was completed i sent it to him and he responded almost immediately saying he no longer wished to sell on contract as it was risky and he would prefer a cash offer.

If so I was wondering if it is a good choice or if I need to try to get my money back.

Good choice @Omari Heflin-  I totally agree with everything above. 

Hi All,I am new to BP and am currently reading Raising Private Capital - Building your Real Estate Empire Using Other Peoples Money.I would like to know if any Real Estate Investors groups in Maine (Portland to Augusta preferably).

You’re potentially worried about being overleveraged and you bought a highly (not always but usually) depreciable item (super expensive car)As far as 35 percent equity, that’s reallt just a personal preference.  

I just spoke with a preferred SBA lender that says, by following the same guidelines as the SBA, they can approve an SBA 504 in a week or less.

I just spoke with a preferred SBA lender that says, by following the same guidelines as the SBA, they can approve an SBA 504 in a week or less.

Your choice would be to earn $750 per month in income and hoard th ecash in yur property praying the markets do not turn or sell and reinvest to earn potentially $2900 per month.Probably the same risk with more than 3X the reward.