I love the upper panhandle area and think Florida has some beautiful, undeveloped areas away from the coast.

Have performance clauses in your contract that give you the power to foreclose on the property owner if the investor isn't making the payments correctly.

Forfeiting the earnest money is the usually remedy if you don't perform on the contract.

FYI There are more Non-Performing 1st TD Commercial Notes then I see REO's.

To alleviate your fear, use a Purchase and Sales Agreement that states that your earnest money is full liquidated damages if you the buyer do not perform.

If you buy a rental property at a BIG discount with little or none of your own money, leverage certainly has worked beautifully whether the asset is appreciating or depreciating in the short term.

Bill, if you are performing business travel, which would need to be far enough to require a sleep over, then eating a meal alone is a deductible travel expense.

Then i spend the rest of my day getting materials and making sure my employees are performing per job specs and getting things done the right way the first time.

Which is excellent performance imho for properties in the 100k and under range.

So for him overseeing the project and performing half of the labor, he will make appx. $37.50/hr.