Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Talk with the HOA.

In the “old” days, people would have the seller pay the lender so as to not “alert” the lender that a property sale had taken place, so that the lender def wouldn’t trigger the so called “due on sale” that’s a part of almost every mortgage or deed of trust document.  

I would love to make a move before the end of the year and so I keep trying to decide which of the following is best for me:1) Buy 1 more expensive CA property near here, and thus a better tenant (less likely to cause issues), but lose a little bit of money every month due to the current numbers, while hoping for future appreciation? 

If your clients/or yourself put the time into learning and figuring out a niche in the RE world that excites you, start looking for deals that make sense and always run the numbers.

If I pay off the first lender, how can I foreclose on the property using the total balance of both loans.

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

Discover the Top 10 Cost-Saving Strategies for Wholesale Buyers—Download Now!"

I used to live in the lower mainland but invested where the numbers work like Vancouver Island or Northern BC.