I am not familiar with the area, but would advise to start somewhere that you would be able to sell for a decent profit without having to hold the property for an exorbitant amount of time.

Even though he said that he is willing to negotiate, I was debating offer him the asking price for seller financing at a lower interest rate so that he is still getting his asking price, plus making the interest on it and maybe finance it at 30 year amortization with a 4 or 5 year balloon and just refinance into a conventional. 

Although I'm sure an investor who buys my properties would already be familiar with local investor -friendly title company's.

I want to be able to travel and give them experiences outside of what is familiar, as well as spending the time to watch them grow up.

Also, I'm only slightly familiar with BRRR... how long do you have to hold the property before you can refinance?

I'm hoping this was just a case of a young lady who isn't familiar with clear and accurate conversation and that we are the road to a happy landlord/tenant relationship. 

I have never been through a foreclosure process, but have researched the process and somewhat familiar with what needs to be done.Should I go through the foreclosure process or should I ask him to transfer the deed back to me?  

I have done quite a few cash out refinances so am familiar with this technique.

Check the law for your area where the property sits.Honestly, the reality is that the debate of lease or no lease does not negate the fact she has not paid the rent and therefore should tell you how this tenant is....EVICT !

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