I already filed the memorandum with the court house the first time he flaked, and now my lawyer sent a letter threatening to sue for specific performance.

I listed it on VRBO and AirBnB while I was away on deployment, and after I saw how well it performed I decided to keep it as a vacation rental.

Disclaimer: The information provided here is for educational purposes only, past performance is never a guarantee of future performance.

Third, the seller can still receive regular returns without needed to "fix toilets."

Our third option is to keep our current residence (which we have a great interest rate on) and invest in a property under 100k using either the BRRRR or turnkey method. 

In addition to losing your deposit, you may possibly be sued to either perform or for damages.

Most sellers will not touch a third party note, but there are some more sophisticated sellers and brokers that will do so. 

My goal would be to take on the self-manage portion myself until it was feasible to transition that to a third-party.  

Every since the last depression, mortgage lenders have taken over and the deposit banks are only originating something like a third of what they used I believe is the statistic.As far as loan products, yes your "average" lender may not do well for you if you want a new construction loan... 

Questions like this are exactly why you should have an experienced agent representing you and watching out for your interests.A title search performed by a title company or real estate law firm determines the vested owner, the liens or other judgements on the property, the loans on the property and the property taxes due.