At a bare bones minimum, the letter confirms the start/end dates of the lease, monthly rent, paid-through date, absence of any prepaid rent other than the current month, and security deposit amount.Better, it will include statements there are no unresolved claims or disputes or repair issues with the current landlord, and no verbal or written side agreements.Better yet, it will include a copy of the tenant's lease, and a confirmation the lease is a true and correct copy with no amendments.

You’re acting as the assignor, so once the assignment agreement is signed, the buyer takes on the financial responsibilities outlined in the PSA, including the EMD submission.

Both things are happening.Buyer agent commission is still negotiated up front with sellers although there is the option not to compensate a buyer's agent - aka have the buyer pay their agent.We also tell buyer's agents to include their commission in the offer.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

This book is full of resources and education and if you order before 12/1 you get the best value because it includes ✅ Access to a live Q&A with James and gets his “The Flipping Workbook”✅ Sample Statement of Work✅Buy Box Worksheet✅James's Flipping Calculator✅Core Team Members Worksheet✅Tool Kit✅Glossary of Terms✅One person wins a giveaway: Free Pro Membership, All of Project RE content, Education, and Weekly calls with James & his communityOrder it paperback, hardback, audio, or ebook.

I would also include in this addendum who is responsible for what.

. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.

Quote from @Bruce Woodruff: @Jonathan Greene Thanks for including me!

Make sure to conduct thorough due diligence on the areas you're interested in, including neighborhood dynamics and the condition of the properties you're considering.

You should expect to pay him $300 for an hour of his time (which should include a written report).