After Purchase Checklist

[Matthew Krieg]

It's happening!  My offer was accepted and I am on my way to owning a duplex in Indiana!  Now while I am waiting for the inspection and finalizing insurance and funding, I want to be productive.  I was so focused on finding a deal and doing the math that I never really looked at my needs for renting or self-managing the units.

I have some time before closing and some time while I complete some minor repairs.  I'd like to continue my research, but need a bit of focus.

My list of things to research:

• Rent (I have a real good idea, based on other homes in the area) 
• Security Deposits (Need to look up IN restrictions, if any)
• Pre-Screening Tenants
• Application (Need Document and Research Fee) 
• Background Screening (was thinking of using MySMartMove)
• Lease Agreement (Document and Reseach - this is the major one for me. Looking forward to reading opinions on yearly or month to month options)
• Accepting Monthly Payments 
• Security (Outside Cameras, New locks, etc.)

What am I missing?  What suggestions can you share specific to these items (or the ones I missed)? 

I'm off to research!

Thanks!

-Matt