That way you and the owner are in agreement and you have been green-lighted to go ahead and run your business. 

Very simple as Chris notes its just an up front agreement..

If you go to the Lease Agreement Forms for your state here: https://get.biggerpockets.com/forms/index/, at checkout, it will give you the option to Upgrade to “Become a Pro annual member for $213 more!

If you have an older home that requires a lot of maintenance, you probably want to avoid the manager who charges a markup.I recommend shopping around occasionally to see if your PM is procuring fair pricing or just marking you up to make money without justification.As for expectations, you need to read the PM agreement and understand what is charged and why.

Please review anything before signing agreements!

On the initial agreement, it clearly stated that the buyer was going to be using financing and listed the terms of their financing

Here’s how this can be managed:Fixed Income Rights Agreements: The terms of the agreement are locked in when the deal is made.

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

I'm struggling a little bit on deciding the best agreement to make sure I can get some cash flow, payback the HELOC, and not drive the new mortgage up too much with the Refi out of the HELOC.

- This is great news, because I have never played violin before.And speaking of arguing, we are actually in agreement on the validity of REPS strategy, and I have many clients doing this.