If you're having issues making the numbers work, then this may not be the right deal for you. 

@Tristam GriffithI think part of the issue is that we can't afford 25% down at this time, which is why we have to use creative financing.

Any scheduling concerns, or installation issues, you talk to an operator who refers it to a manager, etc.

Business and tenancy are separate issues.

Reverses can work with timing issues, needs for construction or improvement or if you're wanting to double dip appreciation and cash flow for a period of time.  

The slow/no pays also have the most repair issues and problems in my experience.  

Apparently there are title issues and I need a referral to an attorney or title company so I can have her connect with them to resolve the issues? 

Like Landon said, good on him for admitting hit; honesty in a tenant is a very good thing.The only issue, and I don't know enough to speak to it, is if you accept him as a tenant knowing that he has a misdemeanor, is there a way to get into a discriminatory housing situation because you selectively enforced your own rental criteria.  

It looks like you're already in Birmingham, so a quick drive around the neighborhood shouldn't be an issue and can save you a lot of headache in the end.If the Calera property adds up without relying on appreciation, and you have already done due diligence on what the rehab consisted of, who's selling it and what their performance metrics are like (tenant turnover, maintenance rate, occupancy etc) then that is the best of your two current options.

It needs to be spelled out in the purchase agreement.When I inherit tenants I issue a new M2M lease.