Are there stipulations on how many times you do this?

In fact Georgia passed a law last year stipulating that sales price establishes FMV on the tax assessment for the following year.

I've also never had an insured loss over such a deal.Insurance is about the only issue you could have and your contract can stipulate who insures the property, if an agent is a stickler, you might pay the difference and pay the higher premium.

This includes due diligence period, stipulations, EM amount, agent/brokerage info, etc.

You could always put in a stipulation that he is responsible for expenses up to the $5k initial investment... but at that point would you not then be liable for half the work.

Does it sound like my sis is too involved in my home life where she is placing these stipulations before agreeing to go into business with me?

Since you have no way of knowing what you’re renting long term, set a dollar limit on the amount you’ll repair.Rather than one five year term, a three year lease with two two year options (with stipulated rents negotiated now) will reduce your mom's risk and might actually be more appealing to the landlord.

What should I include in my letter to get this stipulation approved by the underwriter?

Also give yourself plenty of time to find a tenant...say 2 or 3 months; make sure you add in a stipulation that states you have x amount of days to cancel the lease agreement for any reason.Hopefully others can correct me or fine tune what I know!

So long as you stipulate in your purchase contract that the contract is assignable and the seller agrees to it, you can.Your end buyer will most likely have to come out of pocket for the assignment fee as his/her lender will only loan on the purchase amount on the contract and not include the assignment fee.