Take note that this self sufficiency  test does NOT apply to 2 unit buildings, only 3 or 4 units.

The terms and conditions of this lease will continue to apply.”My point is that the Notices section directly above it states: “NOTICES: Any notice which either party may or is required to give, may be given by mailing the same, by certified mail, to Tenant at the premises, or to Owner at the address shown in Section 2.

@Frankie PaternoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Flat fee, percentage, maximum amount, how many months can the late fee continue to be applied, etc.Thanks in advance!

Will a DSCR loan apply to this kind of transaction, being that the house wont be deeded in my name until after I pay my uncle the balloon payment on the seller financing amount?

Doing a $50K renovation might take you months, which would mean even more holding expense.And, the same problem you mention also applies in the DIY scenario: What if you take months to make $50K in renovations and then still don't get the offer you need?

Even if I entertained the idea of allowing a tenant to do work on a property, I would simply pay them for work completed and they could either receive payment or apply it to the rent.

If you subtract the concessions from the $22,295 buy-down cost, your out-of-pocket cost would be around $6,795.This makes the break-even period even shorter, as you'd only need 10.5 months to recoup that cost if you apply the seller concessions toward the rate buy-down.5.

Do either of these apply?

Even if I have late fees in my leases, I rarely apply them.