You could go to small claims over this but the time and money spent is likely not worth it.

In Wichita, Kansas, the typical property price ranges from $180,000 to $220,000, so there's a strong possibility you'll locate properties that fit the plan, particularly if you can buy distressed properties for less than market value.Rent-to-Price Ratio: To evaluate the possible cash flow from rental properties, analyze the rent-to-price ratio in your market.

@Mica MooreI've had $800 cleanings that were worth every penny, and $250 cleanings that were terrible...

This will be my first investment property and I know NY is not an investor-friendly state but the cash flow with this deal makes it worth it to take it down.  

Once again, a brand new high-end (GE Profile model) DW#3 - One of the water heaters went out and within a couple days it was fixed (new thermostat)My co-pay was $85 each for all three of the above.....for about $3000+ worth of product and labor.

I am not saying that it is a bad idea or not worth it.It appears that you are doing just fine.

For me the 8% is well worth it, they find tenants, screen them, collect rent, call me if maintenance is over $500, I get a detailed report each month and end of year.

It won't be worth your time.

And the childish notion that prices will plumet is ignorant of fact of sellers CHOICE on what price is worth it to sell at.

Lease Options: This is better than a typical lease because there is an expectation that they will buy and in many cases, you can make the tenant responsible for some of the maintenance and also you get some option money.3.