Maybe you can specify something in the lease that if something breaks by the tenant then the pre-paid amount will be applied to the repairs instead of rent.

I hope that my experience isn't the same is yours Vikram.I pre-paid the $20 to attend this evening.

Everyone grasps the idea of prepaid expenses, we pay our yearly insurance and each month we take off that portion that has been used, if we cancel the policy, then we get back that portion that is as yet unused.

A lawyer is always a good idea, and a pre-paid legal service is good as well.

You will have a debit on your side of the transaction for all of 2009 and three months of 2010.

You have about $3000 in costs and prepaids for the refi.

I wonder what other fees they may have , I also read that the seller can contribute up to 6% of the contract sales price to pay for funding fee, closing costs, prepaid and other expenses.

I'll skip to the "tl;dr"....We prepaid PMI on our primary residence.We are considering refinancing.

There is no great benefit to this as most costs are "per property"....appraisals, title insurance, pre paid taxes/insurance, etc.  

What we did right away was set up a checking account in the LLCs name since there was no need for a personal guarantee like a credit card, and got a debit card to go with it.