Look like a good investment but the problem is that I don't know what kind of REI method I should use.

IIRC for every 10,000 forcible detainers FILED, about 2500 deadbeats actually show up in court, about 50 of those mount any kind of "defense" that might earn them a "stay of execution".Of the 2450 that "lost", fewer than 50 are still around when the constables show up (one day before actual moving day-to avoid hassles) to warn them the "the truck is coming tomorrow" and maybe 10 of them are still around when the truck comes.My tenants always KNEW I meant business, so I've only ever been in court 4 times, only ever had ONE tenant show up, she mounted a "dog ate my homework" defense, the judge said, "all cash wins-out you go" and they moved on Friday and Saturday.

He is kind of a Guru when it comes to the SD IRA and has even written an E-Book about it.

What kind of contingency?

I don't know thing one about these kinds of loans.

Since there is no signed agreement, it's kind of left to your sense of doing what is right.

The next advice I would need is, what kind of professional should I get involved in with closing the deal?

You kind of remind me of the podcast with Darren Sager; It is a GREAT listen!!

Would I need to put together a packet of some kind to submit as a mass mailer to development firms?

There's a good group coming together with all kinds of backgrounds and goals.