Forced hot air also heats the air up too much and makes it dry, thus making a need for a humidifier. 

If not, look into it, it will blow your mind lol.  

@Gino Barbaro and @Michael Blank were restauranteurs before blowing up in real estate.

Treat them like a HML with slightly better terms - 12%, interest only due monthly, 2 points, up to 70% of the ARV less repairs.Close at a title company, with promissory note and deed of trust.Appraisal, inspection, and scope of work.No blue sky and no blowing smoke.

A painter have his compressor blow up in his face so his eyeballs are hanging out?

You will be fine.50K owed at $3.7 and 30 = $23250K at 7% and 20 years= 388Thats a doubling of current interest rates and a lower amortization number and its still only an increase of $150+/-  Hardly a devastating blow.

It's funny but all too true, and it still blows my mind the people who thing option 2 is the way to go, as it bleeds them to death for the learning. 

You have to remove ALL the old caulk, let it dry at least 24 hours (a fan would help).

This way it splits risk and he can't walk away and leave you high and dry with the payment.

I have seen homes where they almost destroyed HVAC ductwork by blowing loose insulation in the cold air return ducts.