And what happens to the security deposits? 

Someone had contacted me through BP and I was able to work through them to secure the deal.

Being only a few minutes from Vail owned Jack Frost/Big Boulder secures the top spot.

My goal is simple: once we secure a deal, I buy directly from the seller with cash, and you earn a fee.Are these kinds of arrangements common?

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you aren't securing properties at a substantial discount, you may end up maximizing the LTV, resulting in higher interest rates.

Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.

Request a full handover of tenant files, maintenance records, current lease agreements, rent rolls, and security deposit information.

Just make sure the contracts are solid and everyone is on the same page.Would love to hear if anyone else has faced this challenge and how you managed to secure your EMD without upfront funds.

It's gonna take 30-45 days to secure financing for anyone, unless of course they're using all cash.3/2/1 prepay only works against you if you decide to refi in the next 24 months.