based on the information you supplied, I would go for the 150k property.

He would also receive $50k , secured by a lein, when I resold the property.

Hi I'm new to the group, but find it great educational material.I'm renting my condo in Florida through RE agent, and come to a situation where agent found a potential tenant for me, now the agent insists that I sign the lease with tenant and tenant is approved by Homeowners association before forwarding first/last moth rend and security deposit to me.

We are now putting up a smaller number for that equity split because we have a higher supply of investors than inventory of buildings.

Here is what we put in our move out letter, which may be helpful to build on:Specifically, here's a list of items you should thoroughly clean before vacating:[ ] Floors[ ] sweep/mop laminate floors[ ] vacuum carpets and rugs (shampoo if necessary)[ ] mop kitchen and bathroom floors[ ] Walls, baseboards, ceilings, and built-in shelves[ ] Kitchen cabinets, countertops and sink, stove and oven--inside and out [ ] Refrigerator--clean inside and out, empty it of food[ ] Bathtubs, showers, toilets, and plumbing fixtures[ ] Doors, windows, and window coveringsPlease don't leave anything behind--that includes bags of garbage, clothes, food, newspapers, furniture, appliances, dishes, plants, cleaning supplies, or other items that belong to you.For move in, put all info in the rental agreement.  

I have recently secured a stable job with good incomes.

The note the lender holds that secures the 1st mortgage/lien is signed by the original property owners.

Have them print it, sign, scan it, and email the lease back to you or mail it back with the security deposit and first month's rent.

I do not want to start a fire storm, but the state did recently cut offer the water supply for Mountain House, and last I heard they are struggling to find some alternate sources.So for that fact alone, I would be very careful about buying any properties there until they work our their water supply issue.

Security State.