All Forum Posts by: Iley A Parisi

They refused to show tax returns, and the current tenants according to him are month to month at $700/mo (2 of the 4 units being occupied, the other 2 are being rehabbed and should rent at $1100 a month minimum) The price is a pretty good deal for the price, but not a great one. They at least aren't trying to sell it for what it could be.

would an estoppel cover that month to month requirement? Or is that in addition to requesting a month to month lease signed prior to closing?

I've put in an offer on a 4plex that's been accepted minus the following contingencies I had to review: maintenance records, leases and rent roll. They say they have no maintenance records, rent roll or leases (aside from the fact that 2/4 tenants are month to month, other 2 units are vacant) Price seems good for the area but I feel like the lack of paperwork is a red flag considering they've had the property for 10 years. Am I being overly cautious?

I'm looking into that exact type of area. Just want to make sure I'm not missing anything legally speaking

Hello everyone! New investor here. I was wondering if anyone has insight into renting by the bedroom in and around the Cleveland area. Any legal concerns I need to be aware of? (legality of leasing by the room, max occupancy etc)