As you indicated yourself, it's mostly throwing away money because you have nothing left at the end of the lease.

Maybe even less than 5%

Maybe even allow for a small kitchenette for full privacy, although it would be attached to the house with a connecting door.The yard has enough room to allow for it.

If your investing in another state / city I would say that a strong agent is extremely important - even if you arent buying deals on the market. 

But at the same time, this market just keeps climbing, and it doesn’t look like it’s slowing down anytime soon.Suffolk is definitely more affordable than Nassau, but even out there, prices are getting ridiculous.

Are you able to close the transaction (have enough money (and/or credit) ?

He can fight the seller to still buy the property but you are out of the deal and want your money whether he signs cancellation or takes it from his pocket.Key thing is focus on your agreement / contract and your rights.

They would be putting in some money and their service as sweat equity, and we would be putting up money and my wife’s services. 

For example, a person can go to  a 10 —-13 week school for dental assistant… finish the course get a certificate and have an immediate job making somewhere around 43k plus.. yeah I know it’s not a ton of money, but it’s a good base especially for folks that don’t want to go to college.

We found this existing short term rental just needed a few tweaks to help it make more money.