Ohio has some unusual circumstances with land contacts, if the vendee defaults and has less than 5 years and less than 20 per cent equity in the property you can evict vs having to foreclose.

(unfortunately I have been unable to attend this far but plan on making a meeting very soon :)regards,Chris

For example, under most circumstances, if an individual is involved in unlicensed activity for one month, a civil penalty of $30,000 may be issued.

Unfortunately for me, they bought a house and are not renewing.

I have accepted half a deposit to "take a property off the market", but under no circumstances should you accept a tenant and let them move in without full deposit plus a full first months' rent.

Amend lease to reflect the new property conditions and the new rent and have them sign and date.3) Request politely that they not use profanity, say you hear that they are upset by the change but unfortunately your hands are tied, and in response to any threats calmly assure them that "Pay rent or quit notice" will be served following the lease guidelines if they do not pay rent.Not legal advice, but that is how I would handle.I would also probably look at selling this property down the road unless the cash flow is really good.

They'll hit you with criminal trespassing and we haven't even began talking about monetary damages or your attorney fees.That being said, I still might under the right circumstances, but not the amateurish way that you're approaching this.

Thank you all for the reply,unfortunately this weekend I will be in Miami for my younger brothers graduation so I won't be able to make the REI meeting in Milwaukee but I do look forward to meet and network with other like minded real estate investors in the Milwaukee area as well as with all of you more seasoned investors here on this site.

And after all, residential mortgages don't have prepayment penalties, so you can always pay in extra principal if circumstances suite.

As for REIA's, I've participated with a handful over the years, most recently I am a member with the closest one I have found to Mankato, which is unfortunately about an hour north of here.