Upside/Downsides of Model Lease Back

[Adam Furlough]

Hello everyone,

I want to know what people think about model lease backs..

I am currently looking at one in the Charlotte area and the builder has agreed to stay there for at least one year. The house will cash flow immediately. From what I have read, model lease backs are usually good deals if the house appreciates during the time that the builder is there.

Here are some of the other things I am looking at...
90 notice when the builder moves out
builder must recarpet and paint when they move out
how fast the builders are selling their houses inside their community
comps of homes inside the community

I would appreciate others inputs...

Thanks