@Chinku Chinku how is paying the loan balance down going to help you reach your goals?

Detroit has one the highest rent to price ratios in the country…and we focus on the best balance of price/location within the area.Here is a picture of my portfolio if you/anyone is curious.

Trying to balance proper due diligence against my desire to just acquire a bunch of mediocre units!  

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

@Robert Spiegel Great question, and it’s always a balancing act when dealing with long-term tenants who’ve been fantastic overall.Based on my experience managing over 1,200 rental homes in North Texas, including areas like Dallas, Fort Worth, Plano, and Frisco, here’s how I would approach this:Cleaning Charge: While $540 may feel steep, it can vary depending on the size of the property and local market rates.

As I built my team and delegated responsibilities I was able to achieve a better work/life balance. 

Ensure that the mortgage is assumable, and confirm that there are no due-on-sale clauses that could trigger the full loan balance. 

Maybe offer to split both labor and material costs, or at least find a way to make it feel more balanced.

Anything that was not paid back after the first 6 months accumulated 1% per month ($500) to the balance owed.

For any commodity market, costs are passed to consumers when demand balances or outstrips supply.