You could promptly write a formal letter rescinding the agreement, stating why, and offering to provide the original terms as they were stated, but depending on actual circumstances and any other evidence or witnesses you could be toast.I never sign the Rental Agreement until after all of the adult tenants and/or cosigner have signed.

Lecture over, and I know it won’t stop you, but it’s at least important to make this a formal loan.

Or you buy crap properties in Ghetto war zones. either way its tough.On the flip side you hit it right your that one in 50 who can actually pull it off and its a great lifestyle and income reward can be super for those without formal education like myself.

Or you could simply say you went back to take look at your numbers whilst getting ready to write up the formal contract and noticed you had missed some items in your original calcs when you gave her your preliminary offer over the phone..  

Watch for a formal announcement of date and time!

My specific question to the forum is about having a formal "Company Policy" document that tenants would sign as part of the application process.

My question is: are spreadsheets received from the seller appropriate or should I request more formal documentation?

If I could find a temp instructor or graduate student, they may want to come in even earlier than that.So, my question is -- Should I begin my marketing efforts here soon and just explain that I won't be actually signing the lease until July 23rd when my daughter's financing is formally approved?

He got paid daily for the last 7 years working for his boss without any formal agreement.

Brian, there are renditions of CFBP rulings, articles written and interpretations all over the internet.The only information investors should be studying would be the Act itself and those past a current rulings along with publications, nothing else.Those who have never had formal legal training will find much of the official information to be a difficult read due to many of the references given as they will need to look up those references and be able to interpret the applicability of related rulings and law.