Its very easy for people to get caught in this trap."

I haven’t marketed the unit yet, I fell into this applicant by chance so I’m sure I can get an applicant that will meet my 3X requirement.

Tack onto this, legal fees, preservation, taxes paid, etc and you'll likely be over 600K total judgement.   

Hello everyone,I’m excited to join this forum and connect with fellow real estate enthusiasts.

If you're familiar with stock options, this is exactly how call options work, although they only go out a max of maybe 27 months or so.My questions are a bit numerous, but I've ordered them roughly in order of importance for me: -Is this legal?

Would this be a letter of intent or promissory note?

Thanks in advance. 90% cash out doesn't exist.  90% with favorable terms really doesn't exist.Not sure how you got into this situation using hard money (usually they have a tighter lid on the numbers), but regardless, sell the property and try to get out of it before the HML gets a chance to foreclose.

Can someone advise how to deal with this situation?

I'm scouring my history and can't seem to find the podcast where they talked about this. 

I know it is profitable, Were you able to get any additional information on this?