My business partner and I financed the deal for 1272 Lakins Rd entirely with cash, covering both the purchase and all renovation costs.

The down payment and I'll cover the rest with renting cash flow.  

I want the cash flow to cover any expenses the property may have.With my next property I am trying to figure out what state/town to go to.

After several hearings, we reached an agreement: both parties agreed that if the tenants applied for government assistance to cover the overdue rent and committed to paying rent on time going forward, the eviction process would end.

How do you call a performing Wrap due, in order to cover the Due On Sale on a property you did a SubTo on if your buyer is within his rights on the Wrap?

though; (1) there are tenants in the house on a two year lease (payments are enough to cover mortgage payments), and (2) the Seller wants the option to buy back the property in two years.

I hope that covers your question(s) Thank you Cari.

But I would charge the extra 3% to cover my costs.

This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.

Are you looking to pay off the hard money loan, fund another investment, or cover property improvements?