Are you wanting to rent it, lease option it, carry the note on it, wholesale it, retail it?

Just be sure to check the utilily bills from the last couple of years and any leases that are in-place.

Jay,It'll cost a little bit more but check out Lease Purchase (first check Florida Law, I heard a rumor that there are limits on LP in Florida).

Perhaps you can do a few cheap improvements for the tenannts that add value at the same time.The rent was not raised this time--they just signed a year lease--the third or fourth time.

I plan on leasing the property.The down payment is being funded by my partner (father) and I will be funding appliances and whatever random fixes or improvements the property will need before and during lease.I am meeting with a lawyer later this week to setup an entity.I need help understanding how purchasing a home through a entity works.

I did the accounting for all of the properties, prepared leases, handled tenant complaints, etc.

A master lease with an option could be one legal construct to fit what you need yet not be too involved in the property directly.I think the biggest issue will be for you to clarify in your mind the sorts of deals that would make sense.

Question - Can a private individual request to hold title or lien against personal property during the duration of a lease agreement with renter in the state of Illinois?

That entails buying with owner financing, with lease-option, subject to the existing financing, on land contract, etc.

Should I lease them an hold till spring?