Closing CostsMake sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction.

Additionally, when a problem arises, those problems get addressed and all parties involved are updated.Being a property manager is a hands-on / high touch vertical.

Lots of people rent houses for parties as well, and you won’t be able to do anything about it.  

Even if a title company were to manage the setup making sure all parties are paid, the cheap debt and cash flow would not be enough to be enticing to any investor even if midterm rental could yield a healthy return. 

Only part I got stuck on was how to get a background check.

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

So, the financing party can hire an attorney, get a judgment and that judgment is acceptable for filing at the county. 

Looks like they had one hell of a NYE party.

Blood gets thick and the worst part is 10 years later there are new voices in their ears, telling them all kind of crap and filling it with all kinds of ideas. 

For now, we recommend using the 3rd parties listed in the below post.The beginning of the year is a perfect opportunity to get even with all those contractors who worked for you during 2023: report them to the almighty IRS and make them pay taxes on the money they received from you.