Thanks guys for your prompt response to this.

Except I said he was ineligible for the 2% prompt payment discount so there was a cost albeit a small one (no late fees in Ontario but discounts to 2% max are OK).

If your tenant is prompt on rents and taking good care of the property, I would definitely consider giving them a break for the damages.Does your tenant have renter's insurance?

This issue can be avoided completely by transferring the property into a land trust.While a transfer to an LLC will cause alarms at the bank and prompt them to send you a letter, a transfer to a trust will not.

This "investor" would take the down payment, and in a couple of months would kick the tenant/buyers out and start over again, stealing numerous families' life savings.Just as Gordon Gekko was a blemish on the equity traders, there will always be dishonest people in every profession that will prompt the original question of this thread: is my profession legitimate, or just filled with con-artists?

“Our residents are quite a ways away from being able to purchase a home,” he said.Home prices in many markets are nearing their 2006 peaks, prompting some investors who bought homes during the downturn to flip them at a profit.

Just my insight from a few situations.In fact, my early misadventures had me letting a couple of tenants paint who (you guessed it) promptly moved at the end of the lease.

Prompting the buyers to ask for a re-roof of the roof we had just done. 3.

If they can't even schedule a call, don't answer your questions promptly or with data-based info, don't even have an office for you to visit, or don't arrange a satisfactory tour and visit, then you kind of know everything you need to make a decision.Regarding the equity giveaway, you should also not be buying from a turnkey operator who is selling above market.

This has prompted further research to other options for sourcing my revenue.