You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

I am aware that there is an option for 1000 contact info per month but it is out of my budget.

3.c) Not be arrested at all (based on the color of title that my QCD will have provided to them), and will Trump have to evict them after proving to the court that my buyers don't actually have title to the White House?

The drivable option will be less expensive and make your life better. 

I can look back and question my decision to go with him based on a number of warning signs, but we know some of the same people and our trusted friend referred him to us.

Out of state investing can also be an option because it takes less capital to get started than CA.

BiggerPockets just went live with the property manager referal program last week.Click on the Build Your Team option at the top of your page.

Thank you Korey,it does leave some options.

The great thing about doing a 1031 exchange is that you have infinite exchange options.

For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.