Summary ejectment procedures must now be handled in district court rather than magistrate court necessitating hiring an attorney to evict a lease option tenant for breach.

That will depend on the laws and procedures of the sale.

If I knew enough about what I was buying, I would also be working on automation/procedures as well as attending the local REIA and interviewing contractors.

When a new tenant moves in, I go over the lease and payment procedures with them and emphasize that my husband and I have to pay the mortgage every month with that rent, plus the maintenance fees, taxes, repairs, and insurance.

Care to share a little of the procedures involved in municipal planning?

This would not be offered if the net proceeds from the property on a foreclosed sale would be more than the net present value of the new note. the target will be 31% of gross income.So to begin with you need to determine if the mortgage is more than 31% of gross income then determine if the owner has an acceptable hardship, decrease in income , medical bills etc.need to move would not qualify for modification hardship but would qualify for consideration of a short sale, (same documentation and paper work) .

I also firmly believe that the time commitment is highly dependent on where your rentals are located, how well you maintain them, and your screening procedures.

If you can get it through or past any special use/zoning issues, the provider or NP can pay and expects to pay way better than market for an SFH.The trouble with any non profit or business plan that relies on government dollars to pay for housing or medical costs or child care......is that it relies on government dollars.

You lose:- benefits (such as medical) which are costly to get on your own- a source of recurring funds- some ability to get lines of credit of loans- ability to qualify for various loans at banks- a lot of your ability to get back in the job market several years later, if you change your mindIf you do, make sure you have a large cash cushion in the bank.

Not sure what state the lot is in so I can not speak to the foreclosure procedures but I don't think the bank is going to jump at trying to take it back from you.