Be careful even if you have a clause in the lease regarding forfeiting a deposit as many states don't honor that clause, and some allow the tenant to sue for x times the amount contested (in MD, for instance, it's 3x the disputed amount).   

Many people use a CPA for forming the legal entity LLC but if it does get contested in court I found it’s better to have an attorney prepare the LLC.

I'm currently contesting the results of the appraisal and I'm waiting to hear their response, but I want to make sure that I have a contingency plan lined up just in case things turn sour. 

I don't know if 203k allows it.For more experienced investors, how do you manage in hotly contested markets?

Unless there is more to the story, I'd skip the pissing contest and go with the easier out.

The actual court process takes about 3-4 weeks.If the tenants contest the eviction or otherwise file a legitimate answer to the eviction, then that extends everything out by a couple of weeks while a hearing is scheduled, etc.It's not clear to me why you were so sympathetic to these people at the outset (turning away what could have been a well qualified, long-term tenant? 

Hello,

I have seen the creative side of the members within this forum so thought I would try and leverage all of the different ideas that are out there. I’m hoping some people will help me with rendering/modeling ex...

Is it possible to contest the taxes and have them reduce according to purchase price?

The Tenant has to sign it and accept the charges or they can refuse to sign and take you to court to contest the charges.Unfortunately, your friend did not create a list so you will have to refund the deposit and eat the loss.

Residential taxes are a drain on local municipalities so they never decrease the assessment unless you contest the taxes, which is done often in Alabama.