Hey mate,I'd advise against $50,000 houses unless you are full time on the ground.Turnkey houses for $50,000 tend to be in rougher parts.C or D class.High crime, lot's of volatility, boarded up homes, no upside from an appreciation standpoint, cars with no wheels lol and PM collects rents with a bullet proof vest and shot gun.Works well for some and the hustle is real.

Contact the city and ask if you are required to install child-proofing on the windows.

If you have a bad layout bite the bullet and replace them, you won't be sorry. 

this will help with the administrative tasks (e.g. yearly 1099, pay off statements, accounting especially if the borrower pays faster) as well as helping to provide a 3rd party proof of non-payment in case you need to foreclose.Be sure to use an attorney that specializes in Notes, not necessarily a real estate attorney, to draft the paperwork and protect your interests.Good luck.

I usually respond in an email with the bullet point list of the “owners” requirements, but sounds like I should change them to questions and tack on a few.

While I can understand that people would run away from mold, as long as there is solid, written proof that it has been taken care of they really shouldn't be any issue.If you wanted to, you can also pay for inspector to go through and show that there is no mold on the report.That's funny that Home buyers are running because it's listed, lol.

- Furnish a proof of funds to show them you are serious.- Don't drag your contractor around to more than 2 or 3 properties without pulling the trigger on 1 of the deals.

- do you have proof the tenant damaged the door?

And also proof that tenants were not harassed when they left is a requirement to the conversion.

Ask for proof.