Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.

That means they have hauled in over $2.6MM just in initial setup fees.

If I were to do a traditional VA loan, the loan would be close to 7%.Below are what I understand to be the numbers so far:Seller purchased the property in DEC 2022 for $1.13M (owned for 2yrs)Current estimates are Zillow= $1.26M/  Redfin=$1.323MOur agreed purchase price is $1.25MSeller financing would be $120k @ 8% for 3yrs.No commission cost.Small percentage of fees/ costs in the tune of 1.5% of loan amount.Let me know what you think and if you need any additional info.

Of course they are going to have bad credit or they would be looking in a better area.Another thing you may want to consider to drive more applications is to not charge the application fee.

I know hosts have included additional cleaning fees for violations as a deterrent.If none of these solutions work, you could look into completely independent HVAC systems for the two units, though that would be a bigger upfront investment.

I am using the tax benefit along with the principal pay down and appreciation to offset.

Hi Danielle, As a property manager, if you were my client, I would recommend that you incorporate a monthly flat rate utility fee into that tenants lease.

Thanks.Hi Courtney,BiggerPockets Pro members get access to all Stessa core (free tier) functionality – plus unlock exclusive access to advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO), all at no additional cost.BiggerPockets Pro members have free access to all Stessa’s featured benefits as well as advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO) – giving Pro members exclusive value not offered to Stessa Free members.Simplify tax time and help maximize deductions Organize financial data and accountingEasily track key property metrics to optimize and boost ROI. 

Don’t forget to pay your state of OH income tax, even on the formerly tax free money you are transferring out of NV in to a state with income tax. :-). 

Either way, with rent and price appreciation, tax benefits, holding long term is a net worth exploder.