Typically the contract will for say 90-120 to obtain lender(s) approval for the short sale, and if approval is granted by that time, then either party may terminate, or at some date the contract automatically terminates.

If the water is off and the property vacant for some time, automatically figure on replacing the hot water heater and repairing or replacing bathroom, kitchen and outdoor faucets.

In TX, I believe an automatic stay of execution of foreclosure comes with filing a probate, but I could be wrong, and, hey, it's Texas.

This was done taking the automatic 50% away for expenses.I feel as if they just comp'ed the house as it were a SFR.

Does your lease automatically become a month to month if a new lease is not drawn up?

The system is set up for multiple zones and automatically adjusts the load based upon demand and exterior temperature to operate at maximum efficiency.This picture was taken just before completion.

Generally the parents were amenable to automatic deductions or automatic bill pay(paper check generation) from their banks.Make sure the parents know about late fees and that you enforce them every month.

Alot of people hear real estate Investor and think you are automatically liquid.

Then if I were going to lease to them, I'd use a standard one year lease that is automatically renewable except for 'cause' for one additional year.

Don't mean to be harsh, but there are issues through out it, rent credits, optionee doing maintenance, sale covenants in insurance, it's an option, there is no issue with you not taking the deal, however, it's conditioned on performance, that violates true options and automatic rent extended and option can violate any due on sale.