I think my best option is just to sit with him and explain to him that he needs to put the money in this account as soon as possible if he wants to make a real offer.Thanks for the help.

The lots priced higher (> $100K) sit for a while.

My problem is that I just have so little time to be able to sit and look for properties.

@Dylan TannerThere's a casual sit down eating place here, national chain who has a 10 year lease, no option for renewal.

Both my properties need major work about 25k in repairs and a winter sitting vacant and semi-untouched can equal bigger problems.

Great bones !

My thought instant money maker, instead I'm sitting here trying to figure out who will purchase this property after almost 3 wks of marketing the property, so my personal take hard to sale but maybe a totally good investment using your personal buying criteria for long term hold.

I would sit down with your wife and set goals first, before speaking with a mortgage person, leverage is great but if you have been successful you might want an equity partner.

One of my concerns is that the prior owners are willing to take such a huge loss on the property considering they want it to be an investment, but the broker assured us that it's been sitting on the market for quite awhile, they're unable to properly manage it from so far away, and the real estate market in the area is slow - so they've been aggressively priced to sell.Anyways, the house just next door to the east (the yellow one) is a very comparable property detail wise, but not quite as nice and it currently is leased out for $700 per month.

That is a heck of a lot of money sitting around not working for you.