These properties often have systems with about ten years of life left and are situated in neighborhoods with appreciating property values and rental income.The cash flow from a property largely depends on your down payment.

Doug, I was in this situation 6 months ago.

**Build Rapport** - **Acknowledge the Seller’s Situation**: Start the conversation by acknowledging the seller's desire to move further out and his long-term ownership of the property.

It sounds like you’re handling a tough situation well, especially for a first-time landlord!

@Jamaal SmithThere are a number of things we don’t know about your situation… such as, how long have you owned your property?

It is generally just to assure the lender that the property will cover the loan value in case of default.Now if you want an appraisal to put a value on the house for legal reasons, like a divorce sale, then I would tell the Appraiser the specific situation and request that he/she give to a true market value on the property.

I don't know the entire situation, so that might be about par, but just my first instinct says that.Also, as mentioned above, rates have quite literally shot back up. 

You can find templates online, but it’s best to consult an attorney to customize it for your situation.4.

I am in a similar situation as you and want to know your experience.

Staying at a hotel is the way to go; the best a spirit can do in that situation is prank call the homeowner!