It was a sobering story, because if he hadn't done this he would not have lost everything (just the land). 

I'm sure you've got interesting stories from 20 years of experience.

You do not want to get wrapped up in your tenants' personal dramas, but you also don't want to wind up as one of the horror story landlords that doesn't seem to have a beating heart.

.- This will not work nearly as well with a direct lender or mortgage banker, mortgage brokers have a far greater ability to be promiscuous and disloyal to lenders than someone employed directly by a specific single lender or bank, obviously.Front page news stories often cause rather large inter-day interest rate swings.

If you like a book that doesn't just give facts but is a story that gets the point across you can look at the Cash Machine by Dave Mason

@Jocelyn Doumani From the info you provided you are only getting one side of the story.

Long story short, I have very little knowledge on land contracts and I was wondering what people thought about doing that for my first deal?

A little back story on my situation:I currently own one single family rental (almost identical to the one I am currently trying to purchase) in Milwaukee, WI.

Waived mortgage contingency is a different story. 

Leverage your current property returns as examples.Other ways of finding new investors is talking at conferences and meet ups (you have a lot of experience - so tell your story.