With everything pretty much being new I feel reasonably good and have somewhat of a “it’s meant to be feeling” with the original buyer struggling to get the funding together to complete, allowing me the opp to finally secure.

Would you charge damages from the security deposit?

Do you believe that reviews are the main pillar for securing more reservations for a property that is already listed?

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.

We like the safety and security and less work of the smaller portfolio with low risk.

No tenants - No turnover, evictions or chasing rent.No liability - No worries if a homeowner slips and falls.Secured - the investment is secured by real estate.Insured - unlike a stock, the collateral (property) is insured.No taxes and Insurance - Homeowner pays and TI is typically escrowed with the servicing company so no need to track.Notes are typically more liquid than rental real estate.Consistently higher returns - Typically double digit.Scalable - easier to manage several hundred notes versus several hundred rental properties.No HOA or COA - homeowners must pay directly.No property management costs - instead we pay a fraction to a servicing company to collect payments.

It secures the loan with equity from the current portfolio, so providing liquidity for the down payment.

She breezed through her application, has great references and credit score, had already paid her July rent/security deposit, has insurance in place, and is set up for auto-pay going forward.Thanks for your insights!

I'm also considering having them review the lender agreement forms before signing and securing the loan.

You may have to pay off the whole mortgage if the due on sale clause is exercised.No need to move in an LLC if it has a big mortgage and insurance.An LLC can also give you a false sense of security that can easily be pierced with a decent attorney.Just have correct insurance and properly maintain your property.