In addition, you will CERTAINLY have maintenance even if things are all new in the beginning.That 50% figure doesn't only include the expenses that come out every month, it also includes the expenses that only occur occassionally.

If you have an older house that was added to decades ago, and the county records do not reflect those changes (they did not obtain permits back in the days when this was not well policed,) the AVM will kick in and a huge discrepancy will occur in perceived value.

Some major drug busts occur out there, too.

Several problems have occured to get where we are today, needless to say we still have the house on the market.Yesterday I received a call from my agent telling me that there is a couple, he is in the airforce, they are wanting to rent our house for 6 months while he is out on tour and then when he gets back they will use a VA loan to buy the house for the full listing price.I am not a mortgage specialist, but from what I was told through our agent is that after he gets back from this tour, he will then reconnect with his regular full time job, and will acquire a VA loan which supposedly he is already pre-qualified for.I have not done any lease options, but I have wanted to start looking into them, but wasn't prepared to do so with this house.

It didn't occur to me to, but maybe I'll carry, when I go looking.

While we're on the subject, I can think of a few alternate outcomes that might occur, might as well explore them, basic as they might seem 1. lets say we've got that same situation, somebody owes close to the full amount on a mortgage on a 300k house. let's say they owe 275k still.

If you have any specific questions thereafter, repost them on this thread and we will all be happy to follow up.BTW, it the bank owns it, the foreclosure process it over and the auction has occurred.

In fact when I had a vacancy occur during the "off-season" I had the lease run until June or July 30th of the following year.Also whenever I had someone who wanted to start on the 15th I'd tell them that they were "about tied" as far as being a good prospect with someone else that wanted to start on the FIRST.

Also a waiver of lien as well as a waiver of liability for any injuries that may occur during his 'rehabbing' using his own people.See your attorney to draft a workable contract or RUN.

When you have 4 rentals, you are in a position where all units going vacant at the same time (or another major anomaly occurring) is certainly possible and those 4 empty units could be enough to do serious financial damage to you.