I could take that $15k and buy 2 more houses just like it (tripling my cash flow).

If I had to guess: - The bank is doing an Appraisal for list price - The REO listing agent is cospiring by performing or influencing the appraisal value to help them double/triple-end the deal - Then the listing agent is presenting your offer to the bank pre-MLS as a full price offer. ..

Dean, the reason I'm so 'cynical' is that I see it all around me, that tenants that are in rent controlled buildings can not see that they've had a 'good thing' for all this time, but feel that they're owed that they can continue to live for $ 800/month, when market rents are douple or triple that.

Or start hitting singles/doubles/triples more often..

Who knows in another year maybe you'll double or triple that number!

Chances are the people wanting to rent won't want to move in the next day (when I have someone "ready to move in immediately the first thing I want to know is what about notification of their current landlord).As others have said, give him a daily rate for the boat, but set a limit on it,,not under "10" days or more than 20, or something, and have it after that period the 'rent triples,,that way he is motivated to have it out.also as others have stated, not security deposit returned until everything is gone,,he shouldn't have a problem with that and that way you will actually get the rent for the other items.

The IRS might have an issue with that way though.Bottom line: Make triple sure you understand his full intent and that you want to be a part of that.

If things free up for us an we put in the additional capital latter in the year we will triple this year without debt.I won't say that we don't worry about an economic downturn but with the limited debt and the cashflow coming on we hope to have it paid off by the end of the year.

If not, still shoot for a triple net lease, and see what sort of pre-commitments you can secure.

Had I held onto the property, I would have more than tripled that income at this point and have a property free and clear with a value at close to what I originally paid for it due to foreclosures in that area.Point is, I wish I had held that property and every property I purchased and moved into there after.