I learned something from your comments that I hadn't seriously considered before:  The multi-year lease I think is GREAT for turnkeys AND for a newer investor who has a full-time job and a family to support may not have the time, energy, resources, or knowldedge to start from the ground up on with out-of-state real estate investment, I can totally see how turn-key can be super convenient and VERY attractive. 

Set up a separate bank account to hold their security deposits and rent5.

She then wrote us an email basically begging to be let out, stating that she already found other housing and put down the security deposit, etc. 

I think his current mortage is around $750 a month on a 30 yr.I'd like to pay about $1200 a month total outlay to get it paid down. 

@David BiederbeckDefinitely convenience and security.

But ultimately we just got a really great FSBO deal.This is our first time securing a mortgage on a property we own and we assumed that it would be appraised at current market value.

I have negotiated with the seller's agent to represent both sides of the listing and reduce the total commission payout. 

@David Hannah Purchase Price (-$102,082.00) Purchase Closing Costs ($175,000.00) Total ($72,918.00)according to this, the seller is paying you 102k to take the property, and your closing costs are more than the price of a house in half the country.

Most of them exist to take your “membership fee” or other large upfront fees totaling thousands of dollars.

from total strangers that know nothing about you.Well, are you 30 pounds over-weight or 300?